© Reuters Apple (AAPL.US) share price continues to record high! Citigroup is bullish to 240 US dollars Wedbush boasted that the market value will reach 4 trillion
Zhitong Finance APP learned that on Thursday, the US technology giant Apple (NASDAQ:) (AAPL.US) continued to attack the US$3 trillion market value mark. Gross margin expansion. Citi analyst Atif Malik, who started coverage on Apple with a “buy” rating, noted that Apple is continuing to take market share from Android smartphones and that Apple’s profits will benefit from a higher proportion of iPhone Pro and iPhone Pro Max models. rate is continuing to expand.
Malik added that Apple’s overall gross margins were also driven by continued market share gains in China and India, as well as continued cost cutting by designing chips under its own brand and by strengthening its services business. In addition, the analyst also set Apple’s target stock price at a high expectation of $240.
Malik also noted that while the recently announced Apple Vision Pro is unlikely to be a major driver of Apple’s sales in the near term, he is focusing on “how this product fits into everyday life and the potential to benefit from the global wave of artificial intelligence.”
Shares of Apple closed at $189.59 on Thursday, up nearly 0.2%, after rising to an all-time high of $190.070 during the session. As of the close of U.S. stocks on Thursday, Apple’s market value reached 2.98 trillion U.S. dollars, just one step away from the 3 trillion U.S. dollar market value mark.
Before Citigroup covered Apple with a “buy” rating and a high expectation of $240, another Wall Street firm Wedbush gave Apple an “outperform” rating with a target price of $220. Wedbush is also very optimistic about Apple’s service business. It is estimated that Apple’s service business revenue this year is expected to be nearly 100 billion U.S. dollars, while this figure in 2020 is only 50 billion U.S. dollars. Wedbush also said that Apple’s reasonable valuation may be around US$3.5 trillion. Under an optimistic scenario, it is estimated that by fiscal year 2025, Apple’s valuation may reach US$4 trillion.
In terms of iPhone sales expectations, Wedbush said Wall Street has “significantly underestimated” the iPhone upgrade opportunity, as the upcoming iPhone 15 could usher in a “mini super cycle,” with about 25% of iPhone users not upgrading them in the past four years With the iPhone in hand, the potential replacement demand is quite large.
2023-06-29 23:38:21
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