According to Wedbush Securities, the more than impressing sales of Apple’s iPhone 12 series could take the tech company to a new market capitalization of $3 trillion by the end of 2021. Currently, Apple’s market capitalization stands at $2.3 trillion and according to an analysis by Wedbush Securities analysts; Strecker Backe and Daniel Ives, the sales of the iPhone 12 series could boost the company’s market capitalization and take it to a whole new milestone of $3 trillion before this year comes to an end.
Wealth management and capital management firm; Wedbush Securities explained in a note to its investors that Apple’s iPhone 12 pro in particular is going through what can be described as a super cycle. This goes to say that the smartphone is having one of its largest sales as a new product. Wedbush Securities analyst; Daniel Ives and Strecker Backe, forecast that the tech company might have an unprecedented record of 250 million units of the smartphone sold by the end of the year.
According to the analyst, “Based on the current trajectory and in a ‘bull case’, Apple might sell ‘north of 240 million units’, with a possibility of hitting an ‘eye-popping’ 250 million. Not only is this higher than the 220 million Wall Street reckons will be reached, but it will also beat Apple’s previous sales record of 231 million units sold in 2015”.
The analysts also made it known that Apple is thriving well in the Asian market and named the country as one of the major catalysts to Apple’s super cycle moment. The Asian market is estimated to be host to over 350 million iPhone upgrades in 2021 and beyond, and Chinese sales are estimated to be the potential source of 20 percent of iPhone upgrades since 2021.
The Apple iPhone 12 series was released on the 23rd of October last year and so far, it has sold better than the iPhone 11 series by 21 percent. Experts believe that the iPhone 12 coupled with a host of other factors could help Apple achieve a new milestone of $3 trillion market capitalization.
Judging by these factors, Apple might really go ahead to make history by getting to the $3 trillion dollar milestone this year.