Apple’s stock could reach a market capitalisation of US$3-trillion (R45-trillion), analysts say, citing the development of the Apple Car as well as high expectations for the next iPhone.
Citigroup and Wedbush see potential for the tech giant to hit the milestone, an increase that implies an almost 50% surge from Thursday’s close. With a market cap of $2.05-trillion at the time of writing, Apple is already the most valuable stock in the world.
Developing the Apple Car could boost the company’s sales by 10% to 15% after 2024, Citigroup analyst Jim Suva wrote in a note on Friday. By 2025, he expects the worldwide electric vehicles market to outgrow the combined market for smartphones, PCs, tablets and wearables.
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