He added its new virtual reality product, the Vision Pro, would lead to an App Store specifically designed for the headset and give Apple a “massive advantage” over rivals.
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Mr Ives argued investors had “severely underestimated” Apple’s potential iPhone sales as more customers upgrade to new handsets. He added software revenues with more profitable services sales, could help the company continue to boost its earnings.Īpple reported revenues of $394bn in 2022 and a net profit of nearly $100bn.ĭan Ives, an analyst at Wedbush Securities, said the company’s valuation could surge as high as $4 trillion by 2025.
Atif Malik, an analyst at Citi, said the company still had “resilient market share” compared to rival Android smartphone makers. The latest share price jump follows positive reports from analysts this week, who said Apple’s stock could continue to climb. Its stock is up 54pc already so far in 2023.Īpple first secured a $1 trillion valuation in 2018 before surging to $2 trillion two years later.
Shares in Apple jumped up 1.7pc in trading on Friday, hitting a record $193. The Silicon Valley giant hit the milestone again on Friday as markets opened in the US.Īpple previously briefly notched a $3 trillion market value in January 2022, but failed to maintain that momentum and its shares later fell on the back of supply chain challenges and lockdowns in China. Apple has become a $3 trillion (£2.4 trillion) company for the second time in its history as consumers continue to snap up its iPhones despite the cost-of-living crisis.
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