Analyst predicts Apple stock to hit $4 trillion market cap in AI-driven growth era
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Apple Inc. (NASDAQ: AAPL) is riding high after hitting new highs, with Wedbush Securities analyst Dan Ives raising his 12-month price target for the company from $300 to $325, the highest target currently on Wall Street. Calling this a “golden era of growth,” Ives anticipates that Apple’s artificial intelligence (AI) strategy and consumer-driven demand will propel the company toward a $4 trillion market cap by 2025. Apple’s five-day stock price. Source: Finbold As of the market close on December 26, 2024, Apple shares were priced at $259.14, marking a 1.64% gain over the past five days. Year-to-date, the tech giant’s stock has surged more than 39%, bringing its current market capitalization to $3.91 trillion. Apple’s AI push fuels growth Apple’s push into AI began with the launch of the iPhone 16 series on September 20, followed by the debut of Apple Intelligence features in late October. A second batch of these features was released in December, available exclusively for newer iPhones, iPads, and Mac computers. The updates, including tools like Genmoji and ChatGPT integration into Siri, and Visual Intelligence, signal a shift toward AI-driven experiences. Wedbush Raises PT on $AAPL to $325 from $300 – Outperform Analyst comments: “We are raising our price target on Apple as a golden era of growth for Cupertino is now on the horizon into 2025. We believe Apple is entering a multi-year AI-driven iPhone upgrade cycle that the Street… — Wall St Engine (@wallstengine) December 26, 2024 Dan Ives highlights that these upgrades are driving a multi-year iPhone upgrade cycle, with 300 million devices globally overdue for replacement. Wedbush estimates Apple could sell over 240 million iPhones in Fiscal Year 2025, spurred by pent-up demand and attractive carrier discounts, potentially making it the most successful year in the company’s history. “It will ultimately be…
Filed under: News - @ December 27, 2024 2:26 pm