Apple (NASDAQ: AAPL) has established itself as a stalwart among blue-chip stocks, cementing its reputation as a reliable investment option that consistently delivers lucrative returns to stock market enthusiasts.
Renowned for its unwavering pursuit of innovation, Apple has remained at the forefront of technological advancements, consistently introducing groundbreaking products that captivate consumers on a global scale. This unrelenting dedication to pushing boundaries has not only resulted in a loyal customer base but has also fueled substantial revenue growth for the company.
Market experts and astute observers widely anticipate that Apple will sustain its impressive growth trajectory. Among them is Wedbush analyst Daniel Ives, who confidently stated that the tech giant could achieve a $4 trillion valuation by the end of fiscal year 2025.
In light of the recent unveiling of Apple Vision Pro, Finbold has reached out to prominent market experts to gather their insights on the potential trajectory of AAPL stock as we approach the end of 2023. With the stock already experiencing a remarkable surge of over 40% in value since the beginning of this year, there is heightened anticipation regarding its future performance.
Founder of Business Goals Group LLC, Austin
“Apple is currently at a tipping point. They’ve recently reached an ATH stock value, but they’ve also recently had a drop in global market share for smartphones. Their biggest competitor – Samsung, just released a commercial pointing out all the flaws with Apple services & support.”
The professional trader pointed out Apple’s stronghold primarily lies in the computer world, where it holds significant influence, particularly among the boomer generation. However, as this demographic gradually transitions away from purchasing computers, Apple’s dominance in that market may diminish. To maintain relevance and sustain growth, Apple will heavily rely on its presence in smart technology, which is more popular among millennials and Gen Z.
“If Apple doesn’t change things quickly, it could lose its position as an industry leader and go the way of IBM. Usually all-time highs aren’t maintained for long. Given the current climate, Apple stock price will likely be lower than it is now by the end of the year.”
CEO of The Stock Dork, Adam Garcia
Garcia believes there are a number of compelling reasons to believe that AAPL could experience growth and climb in value.
One key factor is Apple’s resilience and strength demonstrated in the face of a challenging year. Despite various obstacles and uncertainties, the company has showcased its ability to navigate through adversity and maintain a solid position in the market.
“Secondly, Apple is entering a high-growth market through its plan to enter the virtual/augmented reality (AR/VR) market, which is expected to grow significantly in the coming years. By investing in this market, Apple could potentially expand its product line and increase its revenue streams.”
Ultimately the financial consultant thinks that AAPL stock price will hit $200 by the end of 2023 and increase to $250 by mid-2024.
CEO of The Smart Investor, Baruch Silvermann
The investor believes that the recent surge in Apple’s stock price, reaching an all-time high, indicates that we might have reached the peak price for the company in the coming years.
“First, consumer purchasing behavior is likely to shift in the near future. I anticipate a noticeable decline in consumer spending momentum, especially in two crucial markets for Apple, namely the United States and China. This shift in consumer sentiment could have a negative effect on Apple’s iPhone sales, as these markets represent significant sources of revenue for the company.”
The looming recession is poised to exert its influence on iPhone purchases, signaling a potential decline in sales compared to the remarkable records set thus far. Moreover, the computer market is expected to persist in a weakened state, posing further challenges. These combined factors will significantly impact the primary profit drivers that Apple heavily relies on.
“Another factor to consider is the potential adoption time for the Vision Pro release. The high-end price of the headset could deter investors until they witness its full range of applications. Although Apple’s Vision Pro headset represents a significant hardware release following the launch of the Apple Watch, it does not guarantee immediate consumer acceptance of a new way of virtual communication. If consumer adoption does occur, it may take a considerable amount of time to materialize.”
AAPL stock chart
AAPL’s current trading proximity to its 52-week high is a positive indication. However, it is noteworthy that the performance aligns with the broader market, as the S&P500 Index is also trading near new highs.
Over the past month, AAPL has exhibited a wide trading range of $170.42 to $184.95, with its current position residing in the middle of this range. Consequently, it is possible that some resistance may be encountered above. Conversely, a resistance zone is observed within the range of $180.96 to $180.96.
On the support side, there exists a significant zone spanning from $175.26 to $177.81. This zone is substantiated by the convergence of multiple trend lines and critical moving averages across different time frames.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.