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Apple shares are chasing a record high

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Apple shares are chasing a record high

Apple’s stock is currently trading near its all-time high
(photo: CC0 Public Domain)

The quotes of Apple is near all-time highs and it’s entirely possible that the company’s shares will set a new record, according to analysts cited Seeking Alpha.

The Chinese market showed consistently high demand for the current generation of iPhone devices in the last quarter, according to experts at Wedbush Securities. Apple did not have to reduce production volumes. In fact, the first quarter results show that demand for Apple-branded smartphones is growing in China.

In January and February, Apple met pent-up demand for older iPhone 14 models as last year’s fourth quarter saw production and supply disruptions. Demand did not drop even in March.

Wedbush Securities estimates that about a quarter of all iPhone owners worldwide have owned their smartphones for at least four years, so the introduction of the iPhone 15 family should provoke higher activity among those switching to a new generation of Apple devices.

In the last 15 months, the audience of iPhone owners has grown by 100 million people. They form an additional user base for services and software provided by Apple.

Wedbush experts estimate the capitalization of the company’s services business at $1.2 trillion in the most modest version, and this factor alone is able to further push up Apple’s shares. According to analysts, the company’s securities are fully capable of reaching a price of $205 per share. Even now, at around $165, they are not trading that far from their all-time highs of around $180.

Additional confidence of the authors of the forecast is given by the expected release of Apple’s first glasses with augmented reality, as well as the demonstration of new areas of application of artificial intelligence technologies, not to mention more ordinary news such as the next updates of the Mac family of computers.

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