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Will Apple stock reach $300 in 2024

Will Apple stock reach $300 in 2024

For decades, Apple (NASDAQ: AAPL) has held a very special place in the minds of investors and technology enthusiasts alike. It has a reputation for its slick design, innovation, and unique marketing approach that has often been described as selling an idea to customers rather than products.

While some would argue that its foray into consumer electronics took a toll on quality, it is indisputable that it turned the company’s ticker into a household name, brought staggering profits, and made many try to calculate how rich they would’ve been had they invested in Apple a decade or two ago.

With AAPL’s nearly ceaselessly strong performance that saw it reach a new all-time high on December 13 and its overall 55% rise since January 1, 2023, to a price of $194.91, many investors and traders are now wondering if the tech giant will reach $300 per share in the new year.

AAPL YTD price chart. Source: Finbold

Experts estimate Apple’s 2024 price

Generally, experts, investors, and analysts are notably bullish when it comes to Apple’s likely future performance. This is hardly surprising given that Apple has performed well not only amid the improving market conditions and stabilizing interest rates in 2023 but also during the COVID-19 pandemic and 2022 inflation turmoil.

Additionally, the tech giant is working to expand the ecosystem of its own payment platform, Apple Pay. The company also commands a sizeable market share of the highly competitive smartphone industry, and it remains the largest company in the world, with a staggering market cap of $3 trillion.

Despite all of these factors and the overall bullish sentiment, the highest price target for Apple in 2024 remains at $250 per share. Such valuation would bring Apple’s market cap to approximately $4 trillion, according to the forecasts of Wedbush’s Dan Ives.

Analyst’s 12-month forecast for AAPL. Source: TipRanks

Additionally, the average price target for AAPl in late 2024 stands at $202.18 – a 3.87% upside – and some are even bearish on the company, believing its stock might drop to $150 in 12 months, per the data compiled by TipRanks. Overall, Wall Street analysts rate the tech giant as a moderate buy as of late December 2023.

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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.

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