Apple Will Break Records by the End of the Year

By: Lauren | Published: Dec 17, 2023

Financial strategists recently announced that Apple will be the first company to ever be valued at $4 trillion.

And it won’t take long for the famous tech company to break its own record; in fact, they estimate that Apple will surpass the $4 trillion mark by the end of 2024.

Apple’s Current Value

As of December, 2023, Apple shares are selling on the stock market for about $192 a share.

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Source: Canva

And while the current market cap for Apple is $2.99 trillion, the mega company received a record-breaking valuation of $3 trillion earlier this year.


Wedbush’s Professional Estimations

Expert investment research firm, Wedbush, told the world this week that while they originally estimated that Apple shares would skyrocket to $240 a share within the next year, they now believe it will be even higher.

Wedbush logo in blue

Source: Wedbush

Now, they believe that the price target for Apple shares within the next year will be $250 each, which is about 30% more than its current price.

What Wedbush Has to Say

One strategist at Wedbush explained, “We believe Apple will be the first $4 trillion market cap by the end of 2024 given the pace of growth and monetization we estimate for Cupertino over the next year.”

Illustration of US $100 bills with a green arrow

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And continued, “We believe Apple is heading into a strong holiday season over the coming weeks that should translate into iPhone 15 growth that exceeds Street estimates for the December quarter.”

The Newest iPhone Just Hit the Shelves

Apple releases a new and improved iPhone model every year, and without fail, every year, people line up to get their hands on the newer version of the phone they already have.

The new Apple iPhone 15 is displayed at an Apple Store

Source: Justin Sullivan/Getty Images

This kind of success is almost unmatched not only within the tech industry, but really any kind of retail. And since the iPhone 15 was released in September, it has proven to be one of Apple’s most popular models yet.

iPhone 15s Might Be the Most Popular iPhone Yet

Typically, Apple sells anywhere between 22 million and 30 million units within the first year of each new iPhone it releases.

An Apple employee hands over Apple iPhones

Source: Sean Gallup/Getty Images

However, according to Wedbush, Apple might produce and sell almost 240 million iPhone 15 units next year.


Why Are So Many More People Buying iPhone 15s?

One reason why the strategists assume Apple is going to sell such an incredible number of new iPhones next year is because they are expected to sell 100 million in China alone.

Customers line up at an Apple Store to pick up their orders in Wuhan, China

Source: Getty Images

And that is essentially because the iPhone 15 has several upgrades that the iPhone 14 and 14 Pro didn’t have.


What the Experts Call an “Upgrade Cycle”

While Apple releases a new iPhone every year, some years, there aren’t really that many upgrades from the previous model.

A customer tries Face ID for the iPhone X at the Apple Omotesando store

Source: Tomohiro Ohsumi/Getty Images

However, people are calling the iPhone 15 an important “upgrade cycle,” as it has several features, including a far better camera and an A16 Bionic processor.


Some Worry That Huawei’s Success Will Negatively Affect Apple’s Profits

Huawei Technologies is a China-based company that recently released its first smartphone, and users are reporting that it’s seriously impressive.

A man walks with a bag after making a purchase at a Huawei flagship store in Beijing, China

Source: Kevin Frayer/Getty Images

But while some worry that the relatively new company could decrease Apple’s projected profits in China this year, Wedbush believes that the competition won’t stop Apple from hitting that $4 trillion mark.


Don’t Miss Out: Invest in Apple Now

With Wedbush’s estimated 30% increase in share value for Apple in 2024, the strategist claims that even though Apple shares are expensive now, people would still be smart to invest.

Traders work on the floor of the New York Stock Exchange during afternoon trading

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In fact, one of their financial strategies called investing in Apple a “golden opportunity.”


It’s Not Just iPhone Sales that Are Improving Apple’s Stock

In addition to extensive iPhone 15 sales, the experts at Wedbush also believe that part of Apple’s extreme success this year is based on its AI investment.

Hands typing on a computer with AI illustrations

Source: Freepik

Wedbush believes that Apple will invest about $1 trillion into AI over the coming decade, and this financial sacrifice is going to pay off in a huge way.


Apple Will Continue to Impress the World

Since Steve Jobs made his very first computer, Apple has absolutely wow-ed the world with its cutting edge and widely beloved technology.

Apple CEO Tim Cook delivers a keynote address during an Apple event

Source: Justin Sullivan/Getty Images

And it appears that this historic $4 trillion valuation is just another notch on the belt for the tech conglomerate, as many believe the sky’s the limit in what Apple can do.