A growing chorus of Wall Street professionals is predicting that electric and autonomous vehicles sales will propel Apple Inc. and Tesla Inc. to $3 trillion each in market value by 2030. And it’s become almost the new defensive that when people buy the market, they buy Apple." That follows New Street analyst Pierre Ferragu, who forecast the electric-vehicle maker can have a market capitalization of $2.3 trillion to $3.3 trillion by 2030. Shares of Tesla rose 2.3% to $670 on Monday, giving it a market value of about $643 billion. High ValueCitigroup and Wedbush see potential for Apple to hit the $3 trillion target, an increase of about $1 trillion from its current market capitalization.

Source: Mint March 23, 2021 01:30 UTC