Article said that on Friday last week, Apple's shares reached a milestone by closing above a 3 trillion USD market cap, becoming the first company to achieve this feat. The surge in Apple's stock price was driven by Citi analysts initiating research coverage with a Buy rating and a price target of 240 USD per share, which is the highest on Wall Street. Despite a significant year-to-date rally of approximately 47%, the analysts see further upside potential in Apple's stock, citing the company's ability to gain market share from Android phones and anticipating around 30% additional growth from current levels.*[1] The analysts also believe that the market is underestimating the potential for continued gross margin expansion, which, along with growing services sales mix and a strong balance sheet, forms the basis of their optimistic outlook for Apple. While Apple's shares briefly traded above the 3 trillion USD mark in early 2022, they had not closed above it until this recent milestone.*
What more would I need to this good news, I asked myself. The only regret I have now is that I did not invest into Apple stocks a while ago. But this is life of a trader. You miss some opportunities, but you get another one. Even though I did not enter the Apple position yet, I decided to listen to other analysts’ predictions for possible growth and will enter a trade, however, carefully.[2] Just in case I decided to check the movement of stocks.
As I was scrolling to the past prices of Apple stocks, I was shocked that in the early beginning they were also selling for 9 cents per stock. So, through the whole course on stock exchange, stocks managed to make a return of more than 92,000%. Only in the past five years, stocks made 312% growth*. That’s it, I have seen enough. When the market opens, I will for sure enter the trade on long position.
Movement of Apple stocks in the last five years. (Source: Investing) *
* Past performance is no guarantee of future results.
[1,2] Forward-looking statements are based on assumptions and current expectations, which may be inaccurate, or based on the current economic environment which is subject to change. Such statements are not guaranteeing of future performance. They involve risks and other uncertainties which are difficult to predict. Results could differ materially from those expressed or implied in any forward-looking statements.