Apple Inc. briefly vaulted past the $4 trillion market-capitalization mark on Tuesday, becoming the third publicly traded company to touch that valuation after Nvidia and Microsoft, as a rally in its shares was fueled by stronger-than-expected early demand for the iPhone 17 lineup.
Shares of Apple climbed as traders cheered data showing the iPhone 17 series had outperformed the previous generation in its initial days on sale, helping to allay investor concerns about the company’s pace in artificial-intelligence development.
The stock briefly traded near $270, pushing the company’s market value just above $4 trillion before it retreated slightly by the close.
Analysts and market watchers attributed the move mainly to upbeat handset sales in key markets such as the United States and China.
The milestone follows a sequence of tech giants reaching the same rarefied valuation this year: Nvidia led the way after a blistering AI-driven surge in its stock, and Microsoft subsequently joined the $4 trillion club as its cloud and AI businesses accelerated.
Apple’s entrance, even if brief, underscores how mainstream product cycles can still reshape investor sentiment in an era otherwise dominated by excitement around enterprise AI platforms.
Market data show the move was supported by tangible metrics: industry trackers reported a double-digit uptick in early iPhone 17 sales compared with the last cycle, with stronger uptake in both the U.S. and Chinese markets.
That sales momentum has translated into renewed confidence about Apple’s near-term revenue trajectory, including positive spillovers to services and accessories, though some investors caution that hardware cycles can be cyclical and short-lived.
Despite the headline milestone, commentators noted that Apple’s stock performance this year has been more modest than that of its AI-centric peers.
While Nvidia and Microsoft have seen larger percentage gains tied to AI optimism, Apple has trailed on a year-to-date basis — a point that keeps some analysts asking whether the company’s longer-term valuation should reflect a deeper AI strategy beyond device sales.
Still, the firm’s steady ecosystem revenues, growing services business and disciplined capital returns have been highlighted as stabilizing factors that underpin the recent price move.
Investors will next turn their attention to Apple’s forthcoming quarterly results for clearer confirmation that handset demand and services growth will sustain the company’s elevated valuation.
For now, the brief entry into the $4 trillion club is likely to intensify scrutiny of how consumer hardware cycles and enterprise AI narratives interact to reshape the market leadership landscape among Big Tech.
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