iPhone maker Apple currently stands as the world’s most valuable company, with a market cap of $3.90 trillion. However, according to Wedbush Securities, the company will reach new heights in 2025 and become the first one to reach a $4 trillion valuation.
In a research note shared earlier this week, Webush analyst Dan Ives wrote that Apple is set to have a strong holiday season spearheaded by its latest release, iPhone 16. Ives also predicts that the company’s artificial intelligence upgrade, dubbed Apple Intelligence, will further fuel the demand, especially since it still hasn’t rolled out in key markets like China.
“Apple could sell north of 240 million iPhone units in FY25 as this AI-driven upgrade cycle takes hold, and this will be the highest iPhone unit sales year in Apple’s history,” Ives stated.
Wedbush has an “Overperform” rating on Apple’s stock and a price target of $300 per share.
“We believe Apple is on pace to reach the $4 trillion market cap threshold by early 2025 and be the first member of this exclusive club,” Ives added in the note.
Apple closed at $258.20 per share after a 1.15% gain in a short trading session on Tuesday. The stock is currently 39.09% up year-to-date.