Apple’s march toward a $3 trillion valuation

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It appears that Apple Inc.’s CEO, Tim Cook, is on the brink of leading a $3 trillion empire. The share prices of this well-known consumer-electronics company have been steadily increasing and are now very close to reaching a $3 trillion valuation. As of Wednesday afternoon, the stock has risen by 0.5% to reach $188.93, and it only needs to close above $190.73 to achieve this impressive feat.

However, Apple’s last attempt to reach this milestone fell short. Even though the shares traded at levels that would have resulted in a $3 trillion valuation at the close of business on January 3, 2022, the stock failed to finish there. Nonetheless, Apple is determined to become the first U.S. company to end up in $3 trillion territory.

Apple’s shares have reached record highs once again this June, surpassing their pricing levels from January 3, 2022. However, due to a strong buyback program resulting in a decrease in the number of shares outstanding, the company has yet to exceed its early 2022 performance in terms of valuation.

MARKETWATCH ILLUSTRATION
MARKETWATCH ILLUSTRATION

It’s worth noting that Apple has come a long way since introducing the iPhone back in 2007, and has since achieved a market value of $100 billion.

Although Apple’s market cap has remained stagnant since the beginning of 2022, the company experienced significant valuation growth leading up to that point.

It took Apple 7,874 trading days from its public debut to reach a $500 billion market cap, based on Dow Jones Market Data. The company accomplished this feat on February 29, 2012. Apple then took another 1,617 days to double its valuation and become a trillion-dollar company on August 2, 2018.

Apple’s market value has been on a steady rise, taking 466 trading days to reach $1.5 trillion and hitting $2 trillion in just 50 days after that. Although it took 258 more days to notch a $2.5 trillion valuation, the company is still moving forward in its endeavor to hit the $3 trillion mark, currently being 477 trading days since cracking $2.5 trillion.

According to Wedbush analyst Daniel Ives, Apple’s valuation will continue to soar, with predictions of reaching a $3.5 trillion valuation by fiscal 2025 or even a $4 trillion valuation in his optimistic scenario. Ives believes that the market has underestimated the potential of a massive upgrade opportunity around iPhone 14, coupled with a mini super cycle iPhone 15 ahead, as 25% of Apple’s golden customer base has not upgraded their iPhones in over four years.

Apple has several emerging catalysts on the horizon, such as the launch of its $3,499 Vision Pro headset early next year. While the high price tag may impact early adoption, Apple is likely planning more for the virtual-reality category.

Apple long (Buy)
Enter At: 190.00
T.P_1: 192.23
T.P_2: 194.84
T.P_3: 197.18
T.P_4: 199.91
S.L: 182.71

Apple
Apple

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