Apple Inc, the Mac, iPhone and iPad designer is currently valued at 2.38 trillion USD.
I estimate Apple's intrinsic worth at 1.0 trillion USD. And this is predicated on the assumption that there is no global both economic and social cataclysm that disrupts Apple's manufacturing supply chain.
Actually, Apple's current market capitalisation is equal to the sum of the market capitalisations of Alphabet, Google's owner, Meta, Facebook's owner and Amazon. I think the market here is roughly right. Manufacturing is valuable long-term. The bursting of the current technology bubble is clearly showing again that being profitable matters. Many unprofitable cloud computing, cryptocurrencies and other technology companies' the business model of which is predicated on cheap financing have lost 40 % + of their worth and many of them will go out of business.
While Apple's profitability and stable industrial design and manufacturing business model has provided Apple's market capitalisation with extreme endurance.
I expect there will be a prolonged and deep global economic recession which will test the durability of even the most profitable companies, with most sound business models and fortress like balance sheets.
The pending economic depression will test Warren Buffett and his proverbial value investing approach.
In my opinion, not cash, but profit is king. As it has always been.
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