Gene Munster: There is a clear path for Apple to $3 trillion market value

Apple’s market cap hit $2 trillion on Wednesday. Is $3 trillion possible? Yes, it is.

The milestone give longtime Apple analyst Gene Munster an opportunity to reflect and look forward.

Apple Park in Cupertino, California
Apple Park in Cupertino, California

Gene Munster for Loup Ventures:

The company has executed beyond our wildest dreams when we started covering Apple in 2004. More importantly, we believe the company’s best days are still ahead. More and more, Apple will positively impact our lives…

Three years ago, it was hard for many to imagine that Apple would reach a $1 trillion market cap. Two years ago, it was equally difficult for some to imagine $2 trillion.

MacDailyNews Take: Some people lack imagination.

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

As we have always said, even as many short-sightedly waved (and continue to wave) the white flag, the war is not over. And, yes, we shall prevail… No company is invincible. Not even Microsoft. — MacDailyNews, January 10, 2005

While we understand that, for some investors, $3 trillion is even harder to envision, we believe there is a clear path to that next milestone.

MacDailyNews Take: Yup. $2 trillion, $2 schmillion. Over time, Apple will go much higher than that. The company is currently horribly undervalued.

The path to $3 trillion starts with the fact that the world has changed. Apple’s current and future golden geese (wellness, AR, autonomous systems) are becoming more central to our lives in this new world. We believe the following products and themes will move Apple beyond $2 trillion over the next decade: 5G will drive a three-year device upgrade cycle along with 5G-related benefits of opening new mobile use cases… Augmented Reality will emerge as the next major computing platform with Apple Glasses available sometime around 2022…

Building and maintaining a culture of innovation and excellence has long been an area in which Apple stands head and shoulders above the other tech giants. More recently, that culture has been sustained by Tim Cook. The roots, of course, were planted by Steve Jobs. At its most basic level, the $2 trillion milestone is a recognition of what he started.

MacDailyNews Take: Exactly. Thanks, Steve, for everything! And thanks, Tim, for keeping it going!


  1. While computers and computer-like gadget tools are ultimately detrimental to humanity’s inmate ability to learn and memorize, and to live sustainably (e.g., without raping Mother Earth), for now, Apple Corp. seems to be the only large corporation to have a balanced concern for Capitalism and Commons, for personal privacy and interpersonal communication, for order and for creativity, and for work and for entertainment.

  2. “Apple Corp.” doesn’t exist. Apple Corps is multimedia corporation founded in London in January 1968 by the members of the Beatles. You sound like a raging ditz.

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