One of my favorite lines in the movie Forrest Gump was when the title character, played by Tom Hanks, said, “Lieutenant Dan got me invested in some kind of fruit company. So then I got call from him, saying we don’t have to worry about money no more. And I said, ‘That’s good!'”

The “fruit company” that Forrest Gump was referring to was Apple (AAPL +1.78%). Anyone who invested in the stock when the movie came out in 1994 wouldn’t have to worry about money today. An initial $10,000 investment in Apple back then would be worth roughly $14.2 million today, including reinvested dividends.

What’s in store for Apple going forward? It’s challenging for me to envision what the stock might be worth decades from now. However, I have a hunch where Apple stock will be in five years.

Image source: Getty Images.

What isn’t likely to change for Apple

I suspect that most of what many investors currently love about Apple will remain largely unchanged in 2030. For example, it’s probably a safe assumption that the company’s products will still enjoy an exceptionally loyal customer base.

The iPhone will almost certainly remain at the center of Apple’s sticky ecosystem five years from now. Other products, including Mac, Apple Watch, AirPods, and iPad, will likely contribute meaningfully to the company’s revenue. Services, such as App Store, Apple Pay, Apple TV+, and iCloud, should also retain their importance.

As a result, Apple will rake in a boatload of money by the end of the decade – even more than it does today. If we assume that the company’s sales grow over the next five years at a similar rate to what they have over the last five years, Apple could easily generate total annual revenue in the ballpark of $650 billion.

You can bet that Apple will continue to funnel a significant portion of its profits into research and development, too. Despite its tremendous success in the past, the company must continually innovate.

New and improved

What innovations could be on the way for Apple over the next five years? Let’s start with potential changes to the iPhone.

I fully expect that Apple will unveil a foldable version of its smartphone in the near future. The device should command a higher price than current iPhone models and boost Apple’s sales. However, it’s possible that a foldable iPhone with a larger screen could negatively impact iPad sales.

It’s also a safe bet that Apple will steadily improve the generative AI capabilities on the iPhone and its other devices. Siri should be much more advanced in 2030 than it is today. I’d wager that Apple will have integrated agentic AI throughout much of its ecosystem by the end of the decade as well.

We can also expect to see new products from the Cupertino-based company over the next few years. Rumors are already floating around about Apple launching smart glasses by early 2027. I believe the company is well-positioned to give Meta Platforms (META +0.87%) a run for its money in the smart glasses market.

Will smart glasses be the iPhone killer? I doubt it – at least, not by 2030. My take is that Apple’s smart glasses could boost iPhone sales if the new product(s) integrate with the smartphone along the lines of how the Apple Watch does today.

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A prediction for where Apple stock will be in 2030

While I’ve discussed what Apple’s business might look like in 2030, I haven’t addressed where the stock will be in five years. Here’s my prediction: Apple’s share price will double to around $550. This would increase the company’s market cap to more than $8 trillion.

To be sure, several factors could derail my prediction. For example, a severe, prolonged recession in the second half of the decade would make it much more difficult for Apple to achieve a 100% or greater gain. Apple’s launches of new products could also flop.

However, Apple has a great track record of delivering triple-digit returns over five-year periods. I believe this trend will continue.