• Published on Nov 29, 22
• By Angela Cordoza

How much will Apple stock be worth in 10 years?

US technology giant Apple (AAPL)’s share price has come a long way over the past four decades. What do the next 10 years have in store? The innovative firm replaced ExxonMobil (XOM) as the world’s largest company in 2011 and became the first trillion-dollar public company seven years later. But where will it go next? Technology moves rapidly, so the question for investors is whether Apple can stay one step ahead of its fierce competition. In this Apple long-term stock forecast, we look at how the company makes its money, outline its plans for the future, and assess where the tech giant’s stock price might be in 10 years’ time. Apple (AAPL) has been a technological success story. Founded back in the 1970s, it has grown into a multinational giant and a leading name in the sector. Its hugely popular range of mobile phones and computers boasts an intensely loyal fanbase around the world, eager to snap up the latest models. Apple is probably best known for its iconic iPhones. The first iPhone appeared 15 years ago, and each new launch triggers a buying frenzy at stores around the world. This success is one of the reasons why Apple remains the world’s largest company, with a market capitalisation of $2.5trn. Apple initially went public on 12 December 1980 with a price of $22 a share. The company’s stock has split five times since – on a split-adjusted basis, the IPO price was $10. Long-term investors in Apple have every right to celebrate. The AAPL stock price has risen a remarkable 628% over the past 10 years. Back in July 2012, shares stood at $21.68, but they were up to $140.13 on 3 November 2022. A difficult 2022 has seen the multinational technology company lose 23% YTD. However, Apple is still currently worth more than Alphabet, Amazon and Meta combined. Over the past 15 years, meanwhile, the company has achieved trailing returns of 23.10% – ahead of the 21.11% recorded by the industry, according to Morningstar data to the same day

What factors drive the price of Apple stock?

Of course, Apple hasn’t been immune to stock market turbulence and has been affected by this year’s lack of enthusiasm for growth stocks – which explains why AAPL shares have fallen nearly 23% year-to-date (YTD) from $182.01 at the beginning of 2022. The company’s strong results are a significant driver of the Apple stock price – along with the popularity of its evolving range of products. Apple recently announced a fourth-quarter revenue record of $90.1bn and quarterly earnings per diluted share of $6.11, up 9% year over year. In April 2022, the company announced an acceleration of its US investments, with plans to make new contributions of more than $430bn – and create 20,000 jobs – over the next five years. It also stated that its contributions in the US over the past three years have “significantly outpaced” its original five-year goal of $350bn set in 2018. Tim Cook, Apple’s chief executive, said Apple was “doubling down” on its commitment to US innovation with an investment reaching communities across all 50 states. Currently, Apple supports more than two million jobs across the United States through direct employment, spending with US suppliers and manufacturers, and developer jobs in the thriving iOS app economy. The company also has one eye on its broader responsibilities. Accurately predicting what will happen to a company and its share price over the coming decade is practically impossible. However, market analysts and algorithm-based websites regularly provide approximations and price projections based on models and historical data. As of 3 November 2022, Apple was a ‘strong buy’, based on the views of 24 analysts compiled by TipRanks. While 20 analysts believed AAPL was a ‘buy’, four gave it a ‘hold’ rating, and no analyst rating suggested the stock should be sold. Their consensus view was that the stock could rise to $181.25 over the coming year. The most optimistic believed it could hit $220. Taking a closer look at analysts’ Apple stock predictions, David Vogt of UBS advised its customers to buy the stock. The target price is still set at $185. However, Tim Long from Barclays retained a neutral position. The target price remains set at $156. Credit Suisse revised down Apple’s price target towards the end of October, to $184 from $190, and retained its ‘outperform’ rating. According to the algorithmic forecasting website WalletInvestor, Apple was “a very good long-term (one year) investment”, with the AAPL stock price expected to hit the $191.15 mark over the next 12 months. Over the longer term, the site’s five-year AAPL stock forecast had even better news, with the stock expected to reach $338.12. The Apple stock forecast for 2030 from CoinPriceForecast as of 3 November 2022 suggested the stock could hit $401 by the end of the year, and move up to $419 by the end of 2031. Where will Apple stock be in 10 years? CoinPriceForecast anticipated AAPL to rise further to $439 by the end of 2032. The AAPL stock could approach the $500 mark and hit $461 by the end of 2033, and $486 by the end of 2034, the website’s projection suggested.