Demand for iPhone 12 to drive Apple’s market cap to $3 trillion this year

Wedbush Securities, a wealth management and capital market firm in Los Angeles has stated that the impressive sales of the new iPhone 12 could drive the company to a market capitalization of over $3 trillion by the end of this year.

The statement is backed by a recent analysis carried out by Wedbush analysts, Daviel Ives and Strecker Backe.

Wedbush in a note to its investors explained that the Apple iPhone 12 pro is going through what can be called a super cycle. The smartphone company is experiencing one of its highest sales of a new product.

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According to Wedbush analysts, the smartphone company might record a historic 250 million units sold by the end of the year.

“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 said.

Apple enjoying the Asian market

Wedbush analysts pinpointed the Asian markets as one of the key drivers of the Apple super Cycle moment. The Asian markets have witnessed what they described as a “Robust strength in demand.”

• The Asian market is estimated to host over 350 million iPhone Upgrades in 2021 and beyond
• Chinese sales are estimated to be the potential source of 20% of iPhone upgrades over 2021.

What you should know

• Loupe venture Analyst, Gene Munster believes that digital acceleration, the iPhone 12, and other factors could drive Apple stock to a $200 price per share and a $3 trillion market capitalization before the end of 2021.
• The iPhone 12 was released on the 23rd of October last year and have so far sold 21% better than the iPhone 11
• A supercycle can be defined as an extended period of booming demand for a wide array of commodities, leading to a surge in their prices, followed by a collapse of demand and eventually prices.