Apple (APPL) bull expects iPhone maker to hit $3 trillion market cap in 2022

Varied fashions of the Apple Inc. iPad on the firm’s Yeouido retailer throughout its opening in Seoul, South Korea, on Friday, Feb. 26, 2021.

Jean Chung | Bloomberg | Getty Photographs

Apple might hit a $3 trillion market capitalization in 2022, in accordance with Wedbush analyst Dan Ives, who’s bullish on the tech big.

The iPhone maker’s shares are down about 5% year-to-date. Earlier this yr, buyers dumped the corporate’s shares following a historic December quarter.

Apple is the world’s most beneficial firm with a present market cap of round $2.1 trillion. It crossed the primary trillion in 2018 and the $2 trillion mark in 2020. Analysts, together with Ives, have beforehand talked about Apple’s roadmap to the file $3 trillion mark.

“We predict finally 12 to 18 months from now,” Ives advised CNBC’s “Road Indicators Asia” on Tuesday when requested a few potential timeline to the following milestone.

“For those who have a look at the innovation, for those who have a look at the supercycle enjoying out within the providers enterprise proper now, I consider that is simply kind of the following stage of progress,” Ives mentioned, including it’s set to show to skeptics that Apple stays targeted on innovation.

In late April, Ives elevated Apple’s value goal from $175 a share to $185, sustaining an outperform ranking on the inventory. Apple’s shares closed at $125.90 per share throughout regular buying and selling hours on Monday.

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Risks to the $3 trillion target

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