Apple (NASDAQ: AAPL) is one of the largest and most successful technology companies in the world, known for its range of popular consumer electronics, software, and services. Its stock price has grown significantly over the past decade, from around $20 per share in 2010 to over $152 per share as of February 20, 2023.
Given that predicting the future stock price of any company involves many uncertainties and variables, investors are looking towards artificial intelligence (AI) with tools such as ChatGPT to try and find a possible trading range for Apple’s stock price by 2030, based on available information and analysis.
Taking this into account, Finbold asked the AI chatbot to see if it could provide any possible insight into Apple’s stock price range by 2030 based on its past performance and its position as a leader in the global smartphone market. The AI tool stated:
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“Based on current trends and analysis, a possible trading range for Apple’s stock price by 2030 could be between $150 and $400 per share. This range is based on several assumptions and variables, including the continued growth of the global smartphone and technology industries, Apple’s ability to maintain and grow its market share, and the impact of potential risks and challenges on the company’s future prospects.”
Smartphone market
One factor that could impact Apple’s future stock price is the company’s continued success in the global smartphone market. Apple’s iPhone is one of the most well-known and successful smartphone brands in the world, and the company has continued to innovate and introduce new models to the market.
Notably, Finbold reported back in May that Apple’s iPhone market share climbed by 20% despite a decline in global smartphone sales. If Apple is successful in maintaining and growing its market share in the smartphone industry, this could help support the company’s future stock price growth.
Another factor that could impact Apple’s future stock price is the growth of the global technology industry as a whole. Apple spent almost $100 billion innovating its products over the last five years, with an 84.33% increase in expenditure on research and development between 2018 and 2022.
In addition, data acquired by Finbold on February 9 indicates that Apple Services recorded a revenue of $79.4 billion in 2022. The revenue emanated from services including Apple Cloud, Apple TV, Apple App Store, Apple Music, Apple Arcade, and Apple Fitness+. Interestingly, Apple Services total revenue was worth more than that of the combined Fortune 500 companies such as Nike (NYSE: NKE) and McDonald’s (NYSE: MCD) in 2022.
As technology continues to evolve and new innovations emerge, the demand for products and services from companies like Apple is likely to increase. This could help support the future growth of Apple’s stock price.
Risks to APPL stock
However, there are also potential risks and challenges that could impact Apple’s future stock price.
ChatGPT noted:
“One of the main risks is increased competition in the smartphone market, as other manufacturers introduce new models and technologies that compete with Apple’s products. Additionally, regulatory changes, economic downturns, and other factors could all impact the future growth of Apple’s stock price.”
Projections made by CoinPriceForecast, the finance prediction platform that uses machine self-learning technology, indicate a significant increase for AAPL stock by 2030, as per data retrieved by Finbold on February 20. The forecasted price prediction for 2030 is $418, a 174% increase from the stock price at the time of publication, slightly more than the higher range ChatGPT suggested.
With that being said, forecasting the future stock price of Apple by the end of 2023 is still difficult and uncertain to predict. On Wall Street, 40 analysts gave the stock a ‘buy’ consensus rating. Notably, 25 experts advocate a ‘strong buy,’ and six a ‘buy.’ Elsewhere, 7 recommend ‘hold,’ and two have opted for a ‘strong sell.’
Based on analyst stock evaluations for AAPL over the last three months, the average price forecast for the next year is $168-53; the target indicates a 10.48% upside from its current price. Interestingly, the highest price target over the next year is $195.
It is important to note that any predictions or forecasts about the future stock price of a company are based on many assumptions and uncertainties, and there is no guarantee that they will be accurate or come to fruition.
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Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
