Apple Analyst Says 'Historic' Upgrade Cycle Will Push Valuation Past $4 Trillion As Cupertino Sets Date For AI-Enabled iPhone Launch
Portfolio Pulse from Shanthi Rexaline
Apple is set to launch the AI-enabled iPhone 16, marking its biggest upgrade cycle, with expectations of over 90 million initial shipments. Analyst Daniel Ives predicts this will drive Apple's market cap past $4 trillion. The transition of CFO from Luca Maestri to Kevan Parekh is expected to be smooth.
August 27, 2024 | 12:50 pm
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Apple's upcoming AI-enabled iPhone 16 launch is expected to trigger the biggest upgrade cycle in its history, potentially driving its market cap past $4 trillion. Analyst Daniel Ives maintains an Outperform rating with a $285 price target.
The launch of the AI-enabled iPhone 16 is expected to be a significant growth driver for Apple, with initial shipments exceeding expectations. The anticipated supercycle and high-margin revenue opportunities could propel Apple's market cap to over $4 trillion. The analyst's positive outlook and maintained price target suggest a likely positive impact on Apple's stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100