but ever since then the stock has trended lower, with the iPhone maker nearly 20% off its all-time highs.believes not only will Apple reclaim its $3 trillion valuation milestone, but that it could surge as much as 53% from current levels to a near-$4 trillion level.
"If we look beyond the near-term, we see a catalyst-rich event path over the next 12 months that is underappreciated by investors," Woodring wrote. "Given Apple's industry-leading retention rates, we expect a portion of these units to be recovered in FY24 as production normalizes, consumer hardware spending recovers, and a new iPhone model launch unlocks pent-up demand," Woodring said. A rebound in App store growth, easing foreign currency headwinds, and3. Upside to Apple's gross margins