According to Ives, Apple Continues Its March Towards a $4 Trillion Market Value

Forex - Apple (NASDAQ:AAPL) shares continue their march towards a $4 trillion valuation. Last month, Apple shares rose by approximately 10%, with investors continuing to bet that Apple Intelligence will be the first major consumer use case for artificial intelligence technologies, resulting in over $720 billion increase in market cap since the dip at the beginning of August.

However, the rollout of Apple Intelligence will take several months and will only be fully available in certain markets as Apple grapples with language, technology, and regulatory challenges. This situation has led to some reluctance among investors to assume that Apple will be profitable from its artificial intelligence investments next year.

Nevertheless, Wedbush analyst Dan Ives argued in a note released on Thursday that "many bears and long-time Apple critics who missed the recent $1 trillion rise in Apple's market value miscalculated three very important dynamics of the Apple story." Ives stated, "We believe Apple is on a path to reach the $4 trillion market value threshold and become the first member of this elite club."

Ives raised his price target for Apple shares by $25 to $325, mentioning that approximately 300 million iPhones ready to be upgraded to the 15 and 16 versions carrying Apple Intelligence features.