Apple has officially entered the elite $4 trillion market capitalization club, becoming the third technology giant to achieve this valuation after Nvidia and Microsoft. The milestone reflects renewed investor confidence driven largely by strong demand for Apple’s newest iPhone models and a rebound in consumer interest following months of muted sales. The company’s shares briefly touched a record $269.87 in early U.S. trading, marking a historic moment for the Cupertino-based firm that continues to dominate the global smartphone market despite increasing competition.
Apple’s stock has surged roughly 13% since the launch of the iPhone 17 series and the slimmer iPhone Air on September 9. Analysts attribute this momentum to strong early sales, with data from Counterpoint Research showing that initial shipments of the new iPhone lineup have outpaced last year’s models by nearly 14% in both the U.S. and China. The new iPhone Air has been particularly well received, appealing to consumers seeking a lightweight yet high-performance device. This demand has helped Apple reverse a sluggish start to the year and counterbalance worries about regulatory scrutiny, trade tensions, and slowing sales in China.
Brokerage firm Evercore ISI suggested that Apple’s better-than-expected sales performance could enable it to surpass earnings projections for the September quarter and maintain a positive outlook heading into the crucial holiday season. The iPhone 17’s performance, combined with Apple’s broader ecosystem of devices and services, continues to reinforce the company’s reputation for premium innovation, even as global competition intensifies.
By crossing the $4 trillion threshold, Apple joins Nvidia—currently valued above $4.5 trillion—and Microsoft, which recently re-entered the group after gains fueled by its deepening partnership with OpenAI. Together, these three companies now dominate the upper tier of global market valuations, symbolizing the immense economic power of Big Tech and its influence across sectors from semiconductors to artificial intelligence.
However, Apple’s rise has not silenced questions about its AI roadmap. The company’s artificial intelligence strategy, centered around its upcoming Apple Intelligence platform, remains under close watch by investors. While Apple announced integrations such as ChatGPT-powered features and an upgraded Siri, its rollout has been slower and more cautious compared to rivals like Google and Microsoft. Critics argue that Apple risks falling behind in the AI race unless it accelerates deployment and enhances cloud-based AI services.
Financially, Apple remains one of the most profitable firms in the world, trading at 33.2 times forward 12-month earnings, according to LSEG data. This valuation remains above the Nasdaq 100 average multiple of 27.4, reflecting continued investor belief in Apple’s brand strength and product resilience. Yet despite its impressive rally, Apple’s stock has underperformed the broader Nasdaq index, which has risen 22% so far this year.
Apple is set to report its quarterly earnings on October 30, a key event that could provide clearer insight into its sales trajectory and strategy for integrating AI into its ecosystem. The results will also indicate whether Apple can sustain momentum through the final quarter of the year, as it seeks to balance innovation with investor expectations in an increasingly competitive and AI-driven technology landscape.
