There is an Apple store in Turkey.
Dilara Senkaya is pictured.
In a bull-case scenario, Apple's stock price could soar 27% to $225.
He explained in a Sunday note why Apple's services business is worth over $1 billion.
A new augmented reality headset that could add $20 to Apple's stock price is expected to launch in summer 2022, according to Ives.
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According to projections from Dan Ives, Apple's record run could last into 2022.
He maintained a $225 bull-case scenario price target for Apple on Sunday, representing potential upside of 27% from Friday's close.
Apple stock traded up 2.6% to $182.23 on Monday, just shy of a $3 trillion valuation. To hit that milestone, shares need to reach $182.85.
The gains could continue due to a strong demand cycle for the iPhone, according to Ives.
"Based on our supply chain checks over the last few weeks, we believe demand is outstriping supply for Apple by roughly 12 million units in the December quarter which now will add to the tailwinds for Cupertino in the March and June quarters as the supply chain issues ease in 1H22
Apple's services business is expected to beat investor expectations in its upcoming quarterly results, which will remain a key driver for the company. An ongoing re-rating of Apple will be dependent on the growth of subscription services, which is worth about half of Apple's current value.
He said that the Services business is poised to reach $100 billion in annual revenue by the year 2024.
If Apple introduces an augmented reality headset, it could add up to $20 per share to the company's stock price, or a value of more than $325 billion. This product would catapult Apple into the metaverse.
He said that the Apple Glasses could add $20 per share to the valuation of Apple given the massive market opportunity.
The note said that Apple is ramping up a car that has the potential to move revenue. The Apple Car is expected to be introduced by the year 2025.
Markets Insider.
Business Insider has an original article.
