Will Apple’s stock continue to soar?

  • Apple could hit a $4 trillion market cap in 2024
  • Wedbush analyst Dan Ives expects the stock to reach $4 trillion by the end of 2024
  • Apple currently has a market cap of about $3.1 trillion
  • The stock would need to close at $257.19 a share or higher to reach the $4 trillion milestone
  • Concerns about China won’t deter Apple from reaching the $4 trillion milestone

Apple, the most highly valued U.S. company, has the potential to reach a market cap of $4 trillion in 2024, according to Wedbush analyst Dan Ives. With a current market cap of about $3.1 trillion, Apple’s stock would need to close at $257.19 a share or higher to achieve this milestone. Despite concerns about iPhone demand and competition from Chinese smartphones, Ives remains optimistic, citing the pace of growth and monetization for Cupertino over the next year. He believes that about 220 million to 230 million iPhones will be available for upgrade in 2024. Apple’s stock has already experienced significant gains this year, jumping 52%. Ives rates the stock at Outperform with a $250 price target. While there are worries about potential government bans in China, Ives believes that these issues are containable and have not affected demand for Apple in the region.

Public Companies: Apple (AAPL)
Private Companies:
Key People: Dan Ives (Wedbush analyst)

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Factuality Level: 7
Justification: The article provides information about Apple’s market capitalization and predictions for its future growth. The information seems to be based on analyst opinions and market trends. However, there is no mention of any sources or data to support the claims made in the article. Therefore, while the information may be plausible, it lacks concrete evidence and could be considered speculative.

Noise Level: 3
Justification: The article provides information about Apple’s market cap and predictions for its future growth. However, it contains repetitive information and lacks in-depth analysis or evidence to support the claims made. It also includes irrelevant information about text-to-speech technology and requesting feedback.

Financial Relevance: Yes
Financial Markets Impacted: Apple’s market cap and stock performance

Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article discusses Apple’s market cap and stock performance, but there is no mention of any extreme events or their impact.

Reported publicly: www.marketwatch.com