Analysts predict Apple could hit $4 trillion market cap with iPhone 16 launch
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Apple is poised for significant market growth, with Wedbush analysts projecting a $4 trillion market capitalization driven by the upcoming AI-enhanced iPhone 16. The new iPhone is expected to start the new upgrade cycle, which will fulfill the demands that have been accumulated all over the world. Also Read: Anthropic CEO says cost to train AI could rise to $100B in the next three years Wedbush analysts highlight the possibility of a “golden upgrade cycle” with Apple’s inclusion of artificial intelligence as a key turning point in the consumer electronics industry. “The Street is now starting to slowly recognize that with Apple Intelligence on the doorstep in essence Cupertino will be the gatekeepers of the consumer AI Revolution.” Wedbush analysts Apple taps into massive iOS user base for growth Currently, there are more than 2.2 billion iOS devices and 1.5 billion iPhones in use worldwide, and the new AI-powered iPhone 16 is expected to kick start the “consumer AI tidal wave” by mid-September. The upgrade cycle is very important because it has been estimated that 270 million iPhone users have not upgraded their devices in more than four years. The stabilization of iPhone supplies in Asia is definitely a bullish sign for Apple’s upcoming upgrade cycle. Although the Chinese market has faced certain problems, such as competition, there are indications of growing shipments. Analysts at Wedbush believe this contraction’s last quarter will be in June before the next quarter, which should align with the release of the iPhone 16. Also Read: YouTube unveils AI tool to remove copyrighted music from videos The anticipated release of iOS 18, with the support of Apple Intelligence and the partnership with OpenAI, is expected to increase the value of the shares. Wedbush analysts have predicted that this will open up numerous monetization opportunities that will…
Filed under: News - @ July 8, 2024 9:18 pm