Apple shares closed at a record high on Friday, and analysts are expecting the company’s market valuation to top US$3 trillion this week, as the company looks set to overcome the supply chain issues that softened the iPhone 13 launch, and shore up its electric vehicle plans.
The company closed at $US179.45 a share, with a market capitalisation of $US2.98 trillion – based on 16.64 billion fully diluted shares outstanding.
Morgan Stanley analyst Katy Hubert valued Apple’s stock at $US200, and said the company will reach new heights as the EV and VR sectors balloon.
“While AR/VR technology has captured greater investor attention in recent weeks following Facebook’s rebranding, we would note that Apple has been methodically developing AR/VR technology for years,” Hubert said.
“Additionally, in conversations with venture-backed AR/VR companies, the consensus view is that the real catalyst for mass market AR/VR adoption will come when Apple enters the market.
“Apple brings 250,000 points of distribution, in-house semiconductor and component development, supply chain scale, an ecosystem of developer tools and application marketplace.”
