Apple has officially joined the exclusive club of companies valued at $4 trillion, becoming the third entity to achieve this milestone. Microsoft and Nvidia had previously reached this mark, with Apple's shares experiencing a significant surge in recent weeks following the unveiling of its latest iPhone lineup.
The tech giant's market capitalization temporarily surpassed $4 trillion on Wednesday morning, with shares rising as much as 0.4% before paring back earlier gains to around $268.60. While not yet surpassing Microsoft's valuation, Apple's stock is currently trading at over $3.2 trillion, cementing its position as one of the world's largest companies.
Apple now ranks third in terms of market value, behind Nvidia ($4.6 trillion) and Microsoft ($4.04 trillion). Its fourth-quarter earnings report, due Thursday, is expected to drive further growth, with Wall Street anticipating $1.78 per share in earnings and $102.1 billion in revenues. The majority of this revenue is anticipated to come from iPhone sales, which are projected to reach $50 billion.
The recent success of Apple's latest iPhones has been nothing short of spectacular, with the new models outselling their predecessors by 14% over the first 10 days on the market in key markets such as the US and China. This surge in demand has helped propel Apple towards a $4 trillion valuation, marking a watershed moment for the company and the tech industry as a whole.
According to WedBush Securities analyst Dan Ives, Apple's achievement is a testament to its "best consumer franchise in the world" and a significant milestone for Big Tech. While it may have missed out on the AI boom of recent years, Apple's ability to tap into the power of consumer demand has ultimately secured its place among the elite of tech giants.
The tech giant's market capitalization temporarily surpassed $4 trillion on Wednesday morning, with shares rising as much as 0.4% before paring back earlier gains to around $268.60. While not yet surpassing Microsoft's valuation, Apple's stock is currently trading at over $3.2 trillion, cementing its position as one of the world's largest companies.
Apple now ranks third in terms of market value, behind Nvidia ($4.6 trillion) and Microsoft ($4.04 trillion). Its fourth-quarter earnings report, due Thursday, is expected to drive further growth, with Wall Street anticipating $1.78 per share in earnings and $102.1 billion in revenues. The majority of this revenue is anticipated to come from iPhone sales, which are projected to reach $50 billion.
The recent success of Apple's latest iPhones has been nothing short of spectacular, with the new models outselling their predecessors by 14% over the first 10 days on the market in key markets such as the US and China. This surge in demand has helped propel Apple towards a $4 trillion valuation, marking a watershed moment for the company and the tech industry as a whole.
According to WedBush Securities analyst Dan Ives, Apple's achievement is a testament to its "best consumer franchise in the world" and a significant milestone for Big Tech. While it may have missed out on the AI boom of recent years, Apple's ability to tap into the power of consumer demand has ultimately secured its place among the elite of tech giants.