Wedbush CSI All Share Investment Banking & Analyst Dan Ives predicts that Apple phone shipments will exceed 0.24 billion units in 2025, setting a new annual record, as the AI capabilities of the iPhone 16 will trigger a "multi-year super cycle."

In a post on X on Thursday, Ives emphasized the importance of AI in consumer devices, particularly highlighting Apple's upcoming iPhone series. This prediction comes at a time when Apple's stock price is nearing an all-time high, having risen 33.57% year-to-date to $247.96.

In an interview on Thursday, Ives stated, 'The AI revolution is about to come, not just for businesses, but also for consumers.' He predicts that by early 2025, Apple's Market Cap will reach $4 trillion. The tech giant currently has a Market Cap of $3.74 trillion.

Ives is not only Bullish on Apple's outlook but also on the broader Technology Sector. He predicts that propelled by rapid adoption of AI across various Industries, the Nasdaq Index could reach 0.025 million points by the end of 2025 or early 2026.

Eves said, "Every dollar spent on NVIDIA chips has a multiplier of 8 to 10 times." He also emphasized the ripple effects on Software companies like Palantir and Salesforce.