Apple’s Fair Valuation Could Be Within The $3.5 Trillion Range

In its latest analysis report, Mizuho Securities raised its iPhone production forecast by 10 million units. Analysts increased the production estimate for 2023 from 217 million units to 227 million units, citing robust sales performance of older models and the upcoming production launch of the new iPhone 15 series, concentrated in the October to December quarter.

From a technical standpoint, analysts at Fairlead Strategies noted last week that Apple was poised to break through the final resistance level around $183, potentially establishing a long-term bullish trend. They also projected that Apple’s stock price could reach $254 by the end of 2024. The upward trend appears strong, with no signs of reversal. Additionally, they mentioned that if the stock price experiences a temporary decline, initial support can be found around the 20-day moving average.

Regarding the $3 trillion valuation milestone (currently at $2.986 trillion), analysts at Wedbush emphasized that if Apple’s stock price reaches $190.73, Apple could become the first company to achieve a market value of $3 trillion.

Despite challenges in the Chinese supply chain and macroeconomic softness over the past year and a half, Apple has successfully overcome these obstacles and is now on the verge of reaching the $3 trillion milestone.

Wedbush believes that Apple’s growth story remains intact and expects significant growth in the next 12 to 18 months, as a substantial portion of Apple’s customer base has not upgraded their iPhones in the past four years, making them likely candidates for the latest iPhone upgrades.

The analysts further stated, “Apple’s fair valuation could be within the $3.5 trillion range, and in a bull-case scenario, the valuation could reach $4 trillion by fiscal year 2025.”