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| Apple Passes $4 Trillion Market Value / Photo File (@MacRumors) |
Apple Inc., the maker of the iPhone, has officially become the third technology company in the world to reach a market capitalization of $4 trillion, joining the elite ranks of Nvidia and Microsoft.
According to reports, Nvidia continues to lead the global tech valuation race with an impressive $5 trillion market cap, while Microsoft holds the second position. Apple’s shares surged to $269.89 at one point, pushing its valuation to $4.005 trillion before closing slightly lower at $3.992 trillion by the end of the trading day.
The company’s market rebound follows the launch of the iPhone 17 series and iPhone Air in September, which fueled a 13% increase in share value, effectively pulling Apple out of a year-long slump.
Industry analysts attribute the recovery to exceptionally strong demand for Apple’s new iPhones, especially in the U.S. and China, which are expected to significantly boost the company’s revenue.
According to Counterpoint Research, sales of the iPhone 17 have been 14% higher compared to the previous model. Meanwhile, Evercore ISI forecasts that Apple’s stellar sales performance could exceed market expectations for the September quarter and set a positive outlook for the December quarter.
Apple is scheduled to release its fourth-quarter financial results on October 30, which investors are eagerly awaiting. Currently, Apple’s stock is trading at 33 times its projected earnings for the next 12 months, notably higher than the expected multiple of 27, reflecting strong investor confidence in the company’s growth trajectory.
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