Apple Inc (AAPL)

[Investors3]

Apple market value to surpass $4 trillion in 2024 – Wedbush
Monday, December 11, 2023 10:52 am

Wedbush Securities analyst Dan Ives sees continues upside for Apple shareholders, predicting that Apple will become the first company to surpass a $4 trillion market value by the end of 2024.

Ian Krietzberg for TheStreet:

Boosting his price target to $250 from $240 in a Sunday note, Ives said that a boost in iPhone sales could be a boon to the stock.

“With roughly 240 million iPhones in the window of an upgrade opportunity globally now at play for iPhone 15 and Services reaccelerating into [fiscal 2024], we view this as the golden opportunity to own Apple for the next year,” he wrote.

Ives’s assumption centers on Apple beating Wall Street expectations of 220 million to 230 million iPhone deliveries for the year.

Ives added in a post on X that he believed Apple would be the first company to cross a $4 trillion market cap. He estimates that move by the end of 2024, “given the pace of growth and monetization for Cupertino.”

MacDailyNews Take: On Friday, Morgan Stanley raised their target price for Apple from $210 to $220 based on their outlook for Services, iPhone 15 gross margins, and high consumer interest in Vision Pro.

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https://macdailynews.com/2023/12/11/apple-market-value-to-surpass-4-trillion-in-2024-wedbush/