Here's How Long Dan Ives Thinks It Will Take Apple To Reach $3 Trillion

Apple Inc AAPL is headed for a $3 trillion market cap in six to nine months, Wedbush analyst Dan Ives said Tuesday on CNBC.

When Apple releases the iPhone 13, it will be a continuation of the supercycle that began with the iPhone 12, Ives said. 

There are still 250 million people who have not upgraded their iPhones in three and a half years, he said. 

Apple is going into a period that Ives referred to as a "renaissance of growth."

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Consumers using other products often switch to the iPhone, but current iPhone users don't move away from the iPhone. 

"Many thought growth was in the rear-view mirror and that's where they have continued to defy the skeptics," Ives noted.

AAPL Price Action: Apple has traded as high as $151.19 and as low as $103.10 over a 52-week period.

Apple's stock was trading around $150.85 at publication time.

Photo: courtesy of Apple.