Dan Ives, a well-known analyst at Wedbush Securities, believes that Apple (AAPL, Financial), Nvidia, and Microsoft are steadily advancing towards a market capitalization of $4 trillion. Ives anticipates Apple will be the first American company to achieve this milestone, followed by Nvidia and Microsoft.
According to Ives, Apple's AI-driven supercycle will kick off with the iPhone 16, expected to launch in the December quarter, introducing more Apple Intelligence. It's predicted that 20% of the global population will use AI through Apple devices. Over the next three to six months, Apple is expected to have a historic year, with iPhone sales surpassing 240 million units.
Ives also mentioned the possibility of Apple's collaboration with China's Baidu in the AI sector, similar to its partnership with OpenAI in the U.S. This could further enhance iPhone upgrades in Asian markets. He forecasts that a significant event for Apple will occur by 2025, marking it as a multi-year supercycle. With 300 million iPhones not upgraded in over four years, there's an unprecedented opportunity for upgrade demand.
Ives maintains that Apple, under Tim Cook's leadership, will reach the $4 trillion market cap first, followed by Nvidia, led by AI pioneer Jensen Huang, and then Microsoft, around mid-2025.
Apple's stock closed with a 1.23% gain at $235, nearing its record high of $236.18.
