Apple broke the $1 trillion mark as the most valuable company in the world back in 2018 and right now Apple’s market cap is $1.40 trillion. Could a $2 trillion market cap be in sight within four years?

Evercore ISI analyst Amit Daryanani thinks it's feasible. In a message to investors he suggests that services (like iCloud storage) and the market share of Apple's wearables business (including Apple Watch or the AirPods) will continue to grow to such an extent that the market cap could hit $2 trillion.

Daryanani expects Apple’s wearables business to see growth of up to $60 billion, and for services he even sees $100 billion as a target. The service segment in particular is growing significantly faster than the rest of Apple's businesses thanks to gross margins in the mid-range of 60 percent. (The rest of Apple's business tends to see 30% gross margins).

In addition, the analyst expects that Apple will continue to aggressively buy back its own shares and reduce the number of shares by about 1 billion shares, which would also drive the market capitalization towards $2 trillion.

He suggests that Apple could reach that $2 trillion market cap within the next four years. There are more details at Barrons (but behind a payment barrier). https://www.barrons.com/articles/how-apple-could-soar-to-a-valuation-of-2-trillion-51591033256

The parody account 'Not Jony Ive' joked on Twitter that Apple only had to raise the prices for iCloud storage slightly to reach that level.

If you are considering buying Apple Shares you could read this guide.

This article originally appeared on Macwelt. Translation by Karen Haslam.