Apple still reliant on one core product as it nudges $3tn hurdle

The iPhone maker may be set to break market records, but it's starting to look more and more like a one-gadget pony

If Apple is to become the world's first three-trillion-dollar company, the iPhone will play a key role in that feat. The tech firm unveils the latest iteration of its signature product on Tuesday, and the success of the iPhone 13 will determine how quickly Apple goes from its current market capitalisation of just under $2.5tn (1.8tn) to $3tn.

We believe Apple is on a trajectory to hit $3tn by early 2022 and the iPhone 13 will be a linchpin of growth," says Dan Ives of investment firm Wedbush Securities.