Wedbush Securities expects Apple's market capitalization to reach USD4T
Date
9/12/2024 4:53:57 AM
(MENAFN) Wedbush Securities has forecast that Apple’s market capitalization will reach USD4 trillion by next year, driven by the anticipated success of the upcoming Iphone 16 launch. Analyst Dan Ives has raised his price target for Apple's stock to USD300 from USD285, representing a 38 percent increase from its current level. This optimistic projection is based on expectations that the iPhone 16 will significantly boost the company's value and market position.
The iPhone 16 is expected to be a landmark product for Apple, with Ives predicting it will be the most successful iPhone launch in the company's history. He attributes this success to the iPhone 16’s advanced artificial intelligence features, branded as "Apple Intelligence," which are anticipated to generate strong consumer interest. Ives forecasts that the combination of these innovative features and a high level of pent-up demand will drive iPhone 16 sales to approximately 240 million units by 2025.
In the Chinese market, Apple is poised to achieve significant success with the iPhone 16, partly due to a potential collaboration with Baidu. This partnership is expected to result in the development of a large language model to enhance the iPhone 16’s AI capabilities. The strategic move is likely to strengthen Apple's position in the Chinese market and further contribute to the anticipated surge in sales.
MENAFN12092024000045015682ID1108665530
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.