Can Apple (NASDAQ-AAPL) go back above 3 trillion

With the special #AppleEvent on the September 7 only a few daus away. Apple (NASDAQ:AAPL)  will showcasin its new Iphone product - the Iphone 14, which only recently had its 15th birthday in June. It will also look to demo its AirPods pro, Apple Watch Series 8 and potentially AR/VR preview. While Apple share price reached its high in December last year at around $179, its much higher than its low in June of 131, with bull analysts such Wedbush Dan Ives price target of  $220 and credit Suisse to outperform at $201.

However more recently Apple is contending with issues including rising inflation hitting consumers and COVID lockdowns in China affecting sales and production volumes, with some analysts indicating the iPhone 14 Pro tipped for $100 price hike while others saying the iPhone 14 price increase may be lower than expected, starting at $749.  At the #AppleEvent it is expected that the iPhone 14 and Apple Watch Series 8 to launch later this fall which wont affect Q4 earnings but may boost Q1 2023 performance.  

In its recent earnings, Revenue was $83 billion versus $82.7 billion expected with iPhone revenue of $40.7 billion versus $38.9 billion expected with the previous iphone iteration, the Iphone 13 pro max lauded by users and critics. Interestingly enough it is the Apple services business which could help Apple move its market back over $3 trillion according to Morgan Stanley's note by Erik W. Woodring.

But according to Morgan Stanley, In a note, Erik W. Woodring indicates that Apple’s services business could help push the tech titan’s market cap over the $3 trillion. Many are predicting the Apple's jump into the space of AR/VR space with its own headset potentially launching in 2023 could open up another series of revenue potential for the tech titan.