Wedbush Securities analyst Dan Ives predicts Apple Inc. (NASDAQ:AAPL) will ship more than 240 million iPhones in 2025, setting a new annual record as artificial intelligence features in the iPhone 16 spark a "multi-year supercycle."
What Happened: In a post on X on Thursday, Ives emphasized the significance of AI integration in consumer devices, particularly highlighting Apple's upcoming iPhone lineup. This projection comes as Apple's stock trades near all-time highs, up 33.57% year-to-date at $247.96.
"The AI revolution is coming, not just to the enterprise, but to the consumer, with Cupertino," Ives told CNBC, predicting Apple will reach a $4 trillion market capitalization by early 2025. The tech giant currently holds a market value of $3.74 trillion.
— Dan Ives (@DivesTech) December 12, 2024
We believe iPhone 16 has kicked off a multi-year supercycle for Apple as the AI Revolution comes to the consumer. We expect Apple will ship more than 240 million iPhones in 2025 breaking its annual record @SquawkStreet
Why It Matters: The bullish outlook extends beyond Apple to the broader technology sector. Ives forecasts the Nasdaq could reach 25,000 by late 2025 or early 2026, driven by accelerating AI adoption across industries.
"Every dollar spent on an NVIDIA chip has an eight-to-ten multiplier," Ives said while highlighting the cascading effects on software companies like Palantir Technologies Inc. and Salesforce Inc.
Current analyst consensus, according to data from Benzinga Pro, shows strong support for Apple's growth trajectory. Based on 31 analyst ratings, Apple has an average price target of $242.26, with Wedbush maintaining the highest target at $300. The three most recent analyst reports from Needham, Wedbush, and Morgan Stanley average $277.67, suggesting a 12.35% upside potential.
- Cathie Wood's Ark Invest Dumps Another $15.3 Million Tesla Shares, Pivots To This Flying Taxi Startup
Image Via Shutterstock
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
