Apple Hit’s New Highs on Path To $4 Trillion

Apple's stock price (AAPL) has achieved another new high, with a close above $243 coming on top of a new all-time-high of $244.11 early in the session. This brings the year-to-date gain in Apple up to 30.90% as the company continues to push on towards that $4trillion market cap milestone.

To date, the $3.67 trillion valuation leaves the firm comfortably out front as the most valued publicly listed company, with bullish momentum propelling Apple past Nvidia's $3.55 trillion.

Analysts continue to back the stock, whilst the high target on the street of $300, if achieved, would comfortably take Apple beyond that $4 trillion marker. It doesn't seem that many years ago that we were talking about $2 trillion as being a significant milestone, but it seems that soon we may be looking at even loftier figures for mega-caps.

Whilst markets were panicking initially on iPhone sales, recent earnings did not disappoint, and the new Ai features could well set off a drive for the handsets.

Dan Ives, an analyst from Wedbush, has commented on Apple's promising prospects, particularly highlighting the iPhone 16. Ives suggests that the launch of this device heralds a new supercycle for the company. A contributing factor to this optimism is the strong sales performance in China, which remains steady.

The introduction of advanced AI features in the iPhone 16 is anticipated to drive significant consumer interest, potentially leading to over 90 million upgrades. This technological innovation aligns with forecasts that predict unprecedented iPhone sales, potentially lifting Apple’s market capitalization to $4 trillion by 2025. Ives has set a target price of $300 for AAPL stock, approximately 23% above the current levels.

The recent surge of Apple's share price reflects strong fundamentals and clearly bullish sentiment, but you cannot discount the possibility of a correction on the horizon. Whilst Apple's stock growth in recent times has paled compared to some of it's competitors, the steady nature of consistent growth shows no signs of slowing.