Apple has maintained its status as a tech titan over the years, but the period 2023-2025 has been marked by troubling stock prices, with sharp declines and impressive recoveries. While Apple has remained resilient and afloat, there are still concerns about the company’s future in an ever-changing world of economic uncertainty, trade policies, and consumer demand.

2023-2024: Accelerated Growth and a Positive Outlook

Apple experienced a remarkable recovery in 2023, with its stock price increasing by 49%. The consumer spending on Apple’s products, which include services and wearables, fuelled this expansion. Furthermore, investors’ enthusiasm for new Apple products, such as the iPhone 15, drove stock prices to new highs. The company’s services segment, which includes the App Store, iCloud, and Apple Music, experienced significant growth, boosting the company’s overall performance.

Apple maintained its momentum in 2024, with a 30.7% increase in stock value. This growth was primarily driven by the expansion of its services division, which now includes Apple TV+, as well as increased market penetration of wearable devices such as the Apple Watch. Furthermore, the market was sustained by the prospect of Apple’s potential venture into artificial intelligence (AI), with many analysts expecting AI capabilities to become a significant revenue source in the future.

What Happened in the Quarter of 2025?

In the last three months (February-April 2025), Apple shares have suffered from a market correction rooted in the broader tech selloff, as well as investor skepticism due to recent US political and global trade changes under Trump’s second presidency.  For example, newer tariffs imposed by Trump are as high as 145% on Chinese imports and China has retaliated with tariffs of 125% on American imports, which has been the primary cause of the fall.

Since the inauguration of the Trump administration, the S&P 500 has fallen by more than 9% due to tariffs. Regardless, some analysts remain optimistic about Apple, particularly due to its strong service growth and upcoming AI product cycles, which could propel the stock above its current level.  On the other hand, some are more cautious, citing weak iPhone demand as a significant risk.

What Can Happen in the Rest of 2025?

In terms of the technology giant’s 2025 outlook, there is a mix of cautious optimism and uncertainty.  Analysts predict only a slight increase in Apple’s stock, with a year-end price target from $220 to $235 which implies an increase of 12% from the previous year. However, if new AI products are successfully launched or iPhone demand increases, the company may outperform these estimates. Nonetheless, there are still broader industry, market, and regulatory challenges that pose risks. If Apple fails to meet investor expectations for innovation events, or if the global trade climate worsens due to rising tariffs and geopolitical tensions, the stock will suffer. 

Long-Term Outlook and Stability

Apple is, and will remain, a blue-chip stock with a strong market position.  However, its days of explosive growth are likely over.  As the company matures, its growth will slow, and much of its success will be dependent on the implementation of new strategies, such as AI product integration and expanded service offerings. Apple’s dominance in the tech market is likely to continue, but investors should expect a slower growth trajectory, albeit one driven by innovation in AI and the services ecosystem.

In 2025, Apple plans to strike a balance between innovation and market realities. For investors, Apple has been and will continue to be a source of consistent growth, though product demand, the state of the economy, and technological advancements must all be actively and closely monitored.