24/7 Wall St. Insights
- Apple Inc. (NASDAQ: AAPL) could be the first public corporation to reach a market cap of $4 trillion.
- Also: Dividend legends to hold forever.
Apple Inc.’s (NASDAQ: AAPL) market cap is currently $3.6 trillion, making it the most valuable company traded on any U.S. exchange. It has raced up at the same pace as the S&P 500 this year, pushing it up 22%. Another 10% increase will bring it to $4 trillion, making it the first public corporation to break that barrier.
Two things could drive the stock higher, or lower. The first is the count of iPhone 16 unit sales. Analysts have several sets of estimates. The most recent of these is from Counterpoint, which said that sales were up 20% in the first three weeks it was on the market in China. This is compared to iPhone 15 sales for the same period a year ago. China is a critical market because there are 900 million smartphone owners there, compared to less than 300 million in the United States.
The second catalyst for the share price is the next earnings announcement on October 31. It is hard to say what a home run quarter would look like. Last year’s revenue was $89.5 billion, and per-share earnings were $1.46. iPhone 16 sales will barely be included, based on when the phone first went on sale. However, it will need to show significant progress from the 2023 numbers.
Apple is in a race for the $4 trillion crowd. The other contestant is AI bellwether Nvidia Corp. (NASDAQ: NVDA), whose earnings need to grow in high double digits to keep up its extraordinary revenue run.
Apple Price Prediction and Forecast 2025-2030
Get Ready To Retire (Sponsored)
Start by taking a quick retirement quiz from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes, or less.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Get started right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
