Only a handful of companies are worth over a trillion dollars, including Tesla and Amazon. Apple's parent company Alpha and Saudi oil group Aramco are valued at $2 trillion, while Microsoft's is valued at $2.5 trillion. Apple's stock rose more than 30 percent in 2021 as it skillfully weathered and capitalized on a supply chain crisis. Increased demand during the pandemic for iPhones, Macs and iPads as customers upgrade their home offices.
In early December, after Morgan Stanley analysts raised their 12-month price target to $200, the stock soared. Moody's also upgraded Apple to A-level in December, making it only the third Triple-A company to be rated by augmented reality. Johnson & Johnson S&P Global continues to rate Apple at AA+, one notch lower than AAA.Advertising
As a result, Apple is now trading at a price-to-earnings ratio of 30, which is 23.4 above the three-year average.DA Davidson.
But few analysts believe the stock is in a bubble.Out of 45 analysts covering Apple news , has made 35 purchases and two sells, according to Bloomberg, and the reason is its increase. A high-margin service company that has generated recurring profits and reduced its reliance on iPhone replacement cycles, and now has $745 million in revenue. Subscribers have paid for a growing range of services, including Streaming music and video on demand, trillions, and warranty coverage.
Last year, its service business generated nearly $70 billion, more than double that. Four years ago, according to Evercore ISI, in the previous quarter, it reached The profit margin on this unit reached a record high of 70.5 percent, which is more than double the sales margin of devices. p>
One of the biggest risks to Apple and stock prices is that the pillars of the service business are collapsing with policy changes. Others have targeted the Apple App Store business model to reduce some transactions by 15 to 30 percent. p>
So far, Apple has seemed to be doing relatively well. In the US, Epic Games sued it last year for illegal monopoly, but Epic failed in 9 out of 10 cases. When Apple filed a claim for damages, the Supreme Court upheld the suit, delaying the lower court's decision to open the App Store to competing payment platforms. Apple Watch and other accessories.
Huberty notes that the market for "wearable devices," such as the Apple Watch, was hard to come by in 2014, but is now $38 billion—the size of a Fortune 120. << / p>
Additional reporting by Joe Renison and Eric Platt in New York p>
© 2022 Financial Times Ltd. All rights reserved, not distributed, copied or modified. p>>
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