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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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.
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.”
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.