Apple's Trajectory Toward $4 Trillion Market Cap Identified by Wedbush

2 min read | October 28, 2024 10:16 PM AEDT | By Team Kalkine Media

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Highlights

Analysts from Wedbush project that Apple Inc. will become the first company to reach a $4 trillion market capitalization by 2025.

Apple's stock has risen over 24% this year, fueled by anticipated advancements in AI capabilities for its products.

The company will release its September quarter earnings on October 31, with a maintained "Outperform" rating and a price target set at $300.

Apple Inc. (NASDAQ:AAPL) is on a trajectory to achieve a market capitalization of $4 trillion, according to analysts at Wedbush. This milestone is anticipated to occur by 2025, positioning Apple ahead of other tech giants, including Nvidia (NASDAQ:NVDA), known for its advancements in artificial intelligence.

In 2023, Apple’s stock appreciated by more than 24%, largely attributed to optimism surrounding the company's integration of AI technologies into its product offerings. Analysts note that the introduction of “Apple Intelligence” features, which are set to be included in updates to the latest iPhone operating system, could stimulate demand for new devices. The enhancements aim to improve the Siri voice assistant and provide a more personalized user experience. Chief Executive Tim Cook has emphasized the significance of this AI system, referring to it as the company's "next big step."

Wedbush analysts also highlighted several key factors that contribute to Apple’s ongoing growth narrative. These include an extensive installed base of over 2 billion iOS devices and 1.5 billion iPhones, with approximately 300 million iPhones currently eligible for upgrades. Additionally, Apple’s services division is valued at around $2 trillion, enhancing its ability to monetize its customer base. The analysts foresee a growing interaction with AI through Apple’s ecosystem, projecting that over 20% of the global population will engage with AI on Apple devices in the coming years.

As Apple prepares to announce its earnings for the September quarter on October 31, the analysts maintain an "Outperform" rating for the stock, alongside a price target of $300, reinforcing confidence in the company's future performance.

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