Wedbush: Apple's capitalization will exceed $3 trillion

Analysts at Wedbush are expecting double-digit earnings growth for Apple this year thanks to the new iPhone 15 and Vision Pro products, while maintaining the company's high stock rating and $220 target price, writes Business Insider.

Apple will increase its market capitalization, which is $3 trillion today, to $4 trillion over the next 2 years.

At the same time, its shares are likely to be worth even more, according to Wedbush analysts, who gave a fair assessment of the company - $ 3.5 trillion. And in an optimistic scenario, the company could reach $4 trillion by 2025, which represents a growth of 25%.

It will be helped by the services industry, whose revenue will approach $100 billion in fiscal 2024, compared to $50 billion in 2020. The revenue potential from services alone is estimated at $1.4 trillion.

Many regular customers-users - and they are about 25% - have not updated their iPhones for 4 years, which indicates their loyalty. Apple could also benefit from the inclusion of AI in the Vision Pro app store, giving it the ability to stay ahead of the competition even further.