Apple Sets New Record: Surpasses $3 Trillion Value

Apple has achieved a significant milestone, as its market capitalization closed above $3 trillion for the first time. According to a CNBC report, Apple’s shares have risen by nearly 49% year to date. In January 2022, Apple became the first company to reach a $3 trillion market cap, although it did not close at that level until now. This marks the first time that Apple, or any other company, has closed the market with a valuation exceeding $3 trillion.

The Optimistic Outlook for Apple

Investors have demonstrated strong confidence in the growth of the Cupertino-based tech giant. Dan Ives, a senior equity research analyst, stated in a note that “The Apple bears and skeptics continue to scratch their heads as many have called for Apple’s ‘broken growth story’ this year in a tougher backdrop, to which we firmly believe the exact opposite has happened with Cupertino heading into a massive renaissance of growth over the next 12 to 18 months.” He further noted that many Wall Street investors may have underestimated Apple’s growth significantly. “The massive installed base upgrade opportunity around the iPhone 14 and now a mini super cycle iPhone 15 ahead, with roughly 25% of Apple’s golden customer base not upgrading their iPhones in over 4 years,” he added.

Apple’s Future Product Roadmap

In the past month, Apple unveiled its first spatial computing glasses, the VisionPro, marking the dawn of a new era of devices. Over the next 18 months, Apple has a busy schedule of new device launches. September is expected to see the arrival of four new iPhone models. Additionally, Apple is anticipated to launch the second-generation Apple Watch Ultra and the Watch Series 9. According to Bloomberg’s Mark German, Apple also intends to refresh the MacBook Pro lineup with 13-inch, 14-inch, and 16-inch models powered by the new M3 processor. “There are also a few products in early development, including a third-generation version of the AirPods and new home equipment such as smart displays, as well as an Apple TV set-top box with improved specifications,” Gurman said.

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