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Dan Ives Says Apple Is Headed To $3 Trillion Market Cap
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Adam Eckert
June 7, 2021 10:55 am
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Dan Ives Says Apple Is Headed To $3 Trillion Market Cap
The current product development cycle will be the biggest one over the last decade for Apple Inc (NASDAQ:AAPL), Wedbush analyst Dan Ives said Monday on CNBC's "Squawk Box."
Product Pipeline: 2021 will be the strongest iPhone year Apple has ever had, Ives told CNBC.
Ives expects Apple to release new Macbook, iPad and Airpods products in 2021.
Next year, Ives said, he is anticipating a smart glasses product incorporating augmented and virtual reality.
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He expects information to be released this summer in terms of partnerships for the recently announced plans for an Apple Car in 2024.
Related Link: What Are The Short- And Long-Term Outlooks For Apple Stock?
Apple Valuation: The recent sideways movement of Apple is simply a digestion period that will be short-lived, Ives told CNBC.
The current price of Apple's stock is "a golden opportunity," he said, adding that a year from now, he expects Apple to have a $3 trillion market cap.
Assuming 16B shares in the float, that translates to a share price of $187.50.
