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Apple briefly surpassed a $4 trillion market valuation for the first time on Tuesday, becoming the third major tech company to achieve the milestone after Nvidia and Microsoft. Shares climbed to $269.89 before closing slightly lower, giving Apple a market value of $3.99 trillion. The surge reflects renewed investor confidence driven by strong global demand for the latest iPhone 17 series and the new iPhone Air.
Since the September 9 product launch, Apple’s stock has gained 13%, marking its first positive momentum this year. According to Chris Zaccarelli, chief investment officer at Northlight Asset Management, the iPhone remains Apple’s core profit engine, reinforcing customer loyalty and deepening engagement in its ecosystem.
Earlier this year, Apple faced headwinds from competition in China and concerns over U.S. tariffs on its Asian manufacturing bases. However, strong early sales—particularly in China and the U.S.—have reversed much of that pressure. Research firm Counterpoint reported that iPhone 17 sales outpaced the previous model by 14%, while the ultra-slim iPhone Air is helping Apple hold ground against rivals like Samsung Electronics.
Evercore ISI analysts expect the robust iPhone sales to drive Apple’s performance above market expectations for the September quarter and strengthen forecasts for the December period. Despite challenges in the artificial intelligence space, Apple continues exploring partnerships with leading AI firms including OpenAI, Anthropic, and Google’s Gemini.
Although Apple’s delayed rollout of its Apple Intelligence suite and Siri’s AI upgrade has sparked concern, analysts suggest integrating AI effectively could significantly elevate the company’s market appeal. Apple’s shares currently trade at 33 times projected earnings, surpassing the Nasdaq 100’s multiple of 27. Despite lagging behind the Nasdaq’s 23% gain this year, Apple’s resilience and brand dominance reaffirm its position as one of the world’s most valuable companies.
