Apple on Wednesday became the first U.S. company to reach the $2 trillion market value level. Apple shares hit the milestone by surpassing $467.77 early on in the trading session, and then extended gains into the afternoon.
Brian Sozzi for Yahoo Finance:
Apple’s achievement comes quickly after the company’s valuation eclipsed $1.5 trillion in June.
For long-time Apple watchers, the next stop on the Apple freight train is in sight.
“By 2023, we believe given super-cycle potential and services business,” Wedbush Securities analyst tech analyst Dan Ives told Yahoo Finance via email when — and why — Apple may hit a $3 trillion valuation. Ives has consistently said that Apple would climb over the $2 trillion valuation level by the end of 2020. It did so about four months ahead of Ives’ schedule.
“While the soft macro and COVID backdrop are weighing on near-term consumer demand trends, Apple has a “once in a decade” opportunity over the next 12 to 18 months as we estimate roughly 350 million of Cupertino’s 950 million iPhones worldwide are in the window of an upgrade opportunity,” Ives wrote in a note to clients earlier this month.
MacDailyNews Take: Yup.
The multi-year super cycle that’ll be kicked off by “iPhone 5G” looms! — MacDailyNews, January 17, 2020
Thank you Tim Cook and teams. 🙏😃
Whatever happened to the golden theorem of “the law of large numbers” that would prevent Apple from ever having a market cap of $1T. This myth was being pushed around in 2017 when Apple had reached about $800B or so market cap. Well, $1T came and went and Apple still seems to be growing, although I suppose at a much slower rate than before. The funny thing is, you don’t hear much talk about this “law” anymore. It’s more like almost any large tech company can break $1T in market cap. Heck, there are bold claims Tesla will be able to make it to $1T and higher in a year or so.
Anyway, I’m highly impressed with Apple and although I figured Apple might hit $1T, I never imagined in my wildest dreams it would ever reach $2T in my lifetime. I figured that not everyone on the planet would be able to own an iPhone which at the time was the driving force of Apple’s revenue. I thought Apple would reach $1T and then drop back a bit and never go any higher.
But, still, $3T sounds absolutely crazy. Sure, I’d like to see that happen, but it seems like a long stretch of imagination. I make no predictions one way or the other. Whatever happens, happens. I’m letting my money ride on Apple Silicon laptops which I think will sell like crazy if Apple prices them reasonably. Also, bundled services backed by a huge customer base. I think there’s at least a few billion dollars more that can be brought to the table. Only time will tell.
Oddly enough, there are still those who say Tim Cook isn’t doing a great job at running Apple, so Apple should already be at $3T. It’s funny to hear things like this because 99% of the CEOs on the planet must be doing a really piss-poor job at running their companies. Tim Cook certainly deserves some respect, but I’m not sure if he’s going to get it.
interesting how the Tim Cook haters and homophobes don’t make many hate comments these days.
Some people just don’t get it….
One can be overwhelmingly pleased with APPL as an investment and thankful that Cook does numbers very well. The same person can be disappointed with Apple as a story; it’s greatly changed character and the exciting, but missing, “start-up” quality it had for decades…even when worth billions. This story was fueled by a person that had a designer’s mind, clever business plans and an acute perception where the puck was headed. The current storyteller is incredibly talented, but the breath is hardly comparable to the previous storyteller. One had sage-like vibrancy and the other is a lot like a spreadsheet.
Lastly, just try to imagine that speaking critical thoughts doesn’t necessary translate to hate and homophobia…any more than an artist critiquing their own work, necessarily means they abhor a work. Such is simply lazy thinking and kind of bigoted because it involves presumptuous judgement. That fits the definition of prejudiced.