Analyst: Apple market value could be the first to hit $2 trillion

Apple, the world’s most valuable public company, has a current market value of $1.388 trillion. Evercore ISI analyst Amit Daryanani believes Apple could be the first to hit the $2 trillion valuation mark.

Apple market value. Image: Apple logoMike Peterson for AppleInsider:

In a research note on Tuesday, lead analyst Amit Daryanani laid out a four-year plan for Apple to hit a $2 trillion market capitalization — a milestone no other company has reached. By the September 2024 fiscal year, the analyst believes that Apple can reach an earnings per share (EPS) of $23. Based on a model of 14% EPS growth per year, reaching a number just shy of double his current EPS estimate of $12.72 for the 2020 fiscal year.

Apple will also continue “aggressively” buying back shares, with an expectation that the Cupertino firm will reduce its share count by about 1 billion in the next four years. That equals out to about 3.6 billion shares at the end of fiscal year 2024, compared to 4.6 billion shares tracked in fiscal year 2019.

Based on that number of shares, Apple’s stock price would need to be over $550 to hit a $2 trillion market capitalization. But, again, Daryanani expects that to be feasible.

MacDailyNews Take: Daryanani’s market value projection doesn’t even take into account things like Apple Glasses, Apple Car, etc. Plus, The Mother of all iPhone Super Cycles this way cometh.

The next ten years are going to be absolutely amazing for Apple. The company has just started to really get going!MacDailyNews, August 2, 2017

Trillion, schmillion. Over time, Apple will go much higher than that. The company is currently horribly undervalued.MacDailyNews, March 1, 2018

The greatest company on earth is still wildly undervalued! The march to $2 trillion has begun! — MacDailyNews, August 2, 2018

7 Comments

  1. But it still won’t be enough. The day they reach $2 trillion some analyst will lay out a plan for them to reach $3 trillion. And they’ll still be price gouging for RAM and SSDs. (Sigh…)

    1. The Cook cheerleader 📣 is always at the ready and in fine form.

      No, reassign him to his old job under Jobs that he excelled at, the CEO position does not suit him.

      Bring on a highly creative innovative CEO (Scott Forstall) and re-establish the same working synergy that made Apple great again — IT WOULD HAPPEN MUCH FASTER.

      What, you think Apple is making all this money from Cook’s innovations. 🤣🤣🤣🤣🤣

      Steve always worked five years ahead in innovative products. So, by that measure of his passing in late 2011 would mean late 2016 the famous “pipeline” ran dry.

      For 3.5 years now we haven’t hear much talk of the magic pipeline, hmmm, wonder why. Also, did Project Titanic burn out or just fade away.

      The fact is Cook is still riding first class in the iPhone gravy train and IF IT shows no signs of slowing selling a handful of other products, THANK YOU Steve, fingers crossed two trill will become reality…

      1. “So, by that measure of his passing in late 2011 would mean late 2016 the famous “pipeline” ran dry.”

        Are you high? You obviously haven’t heard of Apple’s AR glasses that Prosser has actually seen. They’re going to be a pretty big deal. Probably a bit of a slow burn like Apple Watch though so you’ll think they’re a failure for the first few years. You would be wrong.

  2. An analyst that’s extrapolating a stock price 4 years from now in the current environment isn’t serving well his company and is obviously needing some click money (and look who gives him credence).

  3. MDN’s take doesn’t factor in that some or all of those developments may already be priced in, and these new revenue streams will merely be replacing stagnant or declining iPhone growth.

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