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Apple's market value is approaching $2 trillion - Analysts - Naijatechnews

Apple’s market value is approaching $2 trillion – Analysts

Naija Tech News (NTN) on 16, and in content, Apple’s market value is approaching $2 trillion – Analysts, apple .

Analysts believe that although Apple’s market value is approaching US$2 trillion, the share price of the tech giant may still be undervalued due to news that the company plans to launch an “Apple One” subscription bundle as early as October this year to make its products Sold at a lower price.

This bundled subscription package allows consumers to subscribe to Apple’s music (Apple Music), video (Apple TV+), games (Apple Arcade), news (Apple News+), fitness, storage (iCloud), etc. Services, thereby attracting customers to order more Apple services.

” I think Apple’s stock has traditionally been undervalued .” Senior technology analyst Rene Richie (Rene Richie) said. space.”

If the latest speculation about Apple is true, then in the near future, Apple may once again achieve its goal of doubling its service revenue.

Any bundled service will bring a steady stream of new revenue to Apple, and this service may appear when Apple launches its first 5G iPhone. Combining these two growth drivers, Wall Street has been eager to raise its earnings expectations for Apple in the next few years. Theoretically, the stock price of the tech giant will rise as profits rise.

“We believe this is a major move for Apple and is expected to increase its service revenue by 5% in 2021. In our view, this is a genius for Cook to further profit through the bundling strategy,” Wedbush Technology Analyst Dan Ives (Dan Ives) said.

So far this year, Apple’s stock price has risen by 56%, while the Nasdaq has risen 22% and the Dow has fallen 2%. As of the close of US stocks on Friday, Apple’s stock price was reported at $459.63, with a total market value of $1.96 trillion, which is only one step away from $2 trillion.

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