Apple's market capitalisation rises to over $3 trillion, more than the GDP of most countries in the world.
It could be worth even more, however, with Wedbush Securities analyst Dan Ives writing that "Apple's fair valuation could be in the $3.5 trillion range with a bull case $4 trillion valuation by fiscal year 2025.
Despite the underwhelming launch of Apple's Vision Pro and two successive quarters showing a decline in revenue, analysts hold firm that Apple's investment in services will enable the tech giant to maintain a steady upwards momentum.
On pace to earn $100 billion in annual services revenue in fiscal year 2024, Ives says that Apple is "playing chess while others play checkers" in what he calls a "jaw-dropping trajectory".
In the company's future, he sees a world where investors have "severely underestimated the massive installed base upgrade opportunity" for iPhone 14 and a subsequent "mini super cycle" for the release of iPhone 15.
Additionally, the Vision Pro isn't a failure - yet. Ives states that the company's focus will be on "a new app store that will be built around this new form factor with the Apple developer moat a massive advantage in this tech battle for developers."