Apple’s market capitalization recently surpassed $3 trillion despite generating lower revenue in fiscal 2023 than in the previous period. The Cupertino, US-based company is expected to have a strong final quarter of the year, while 2024 marks its entry into the augmented reality headset market. This has created optimism among analysts, who believe that Apple will reach a market capitalization of $4 trillion by the end of 2024.
There are currently no signs of a slowdown in iPhone sales, according to supply chain surveys in Asia. Analysts at Wedbush said Apple could ship 220 million to 230 million iPhones in all of 2024.
Despite the recession, Apple is still achieving impressive growth
With Huawei’s recent resurgence, Apple will face stiff competition in China. However, Wedbush believes the “bitten apple” can still ship more than 100 million units in the calendar year in the world’s most populous market.
Not only do analysts predict Apple will reach a $4 trillion market cap by the end of next year, but they also say its Services division will be a big contributor to Apple’s overall value. Services alone is believed to be worth between $1.5 trillion and $1.6 trillion, and for several quarters, it has been Apple’s only segment to post strong revenue growth.
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