Wedbush Securities analyst Dan Ives predicts Apple (AAPL, Financial) will become the first company to reach a $4 trillion market capitalization in 2025, followed by NVIDIA (NVDA). The firm highlights Apple's substantial base of over 2 billion iOS devices, with approximately 300 million iPhones ripe for upgrades. Apple's services business is valued at $2 trillion, and consumer AI advancements are expected to further integrate into its ecosystem.
Wedbush maintains an "outperform" rating for Apple, setting a target price of $300. The firm anticipates that AI-driven upgrades will propel iPhone sales to over 240 million units in 2025, potentially marking the highest annual sales for the iPhone. Chinese sales alone are projected to hit 100 million units during this upgrade period. The upcoming iOS 18.2 update is seen as launching a new era for Apple, with future iPhones featuring next-gen chip architecture and AI-driven capabilities.
Ives, a prominent Wall Street technology analyst, has previously forecasted Apple's market value to reach $4 trillion, citing rapid growth and monetization. He refers to Apple's AI announcements as a "historic moment" and a catalyst for reaching this milestone.
NVIDIA is also expected to join Apple in the $4 trillion club by 2025. Although NVIDIA briefly surpassed Apple's market cap recently, its growth continues to be fueled by the AI revolution, having more than doubled its value in under a year. In contrast, Apple reached a $3 trillion valuation in July 2023.
