Apple races past $4 trillion market value as new iPhone models revitalize sales

Apple’s market value crossed $4 trillion for the first time on Tuesday, becoming the third Big Tech firm to reach the milestone after Nvidia and Microsoft. The rally came as strong demand for the new iPhone 17 series and iPhone Air helped ease concerns over Apple’s slow progress in artificial intelligence.

Shares rose 0.2 per cent to a record $269.2, bringing total gains to about 13 per cent since the September 9 launch. Analysts said the latest models’ success, particularly in the US and China, has boosted Apple’s outlook despite earlier worries over tariffs and competition from Chinese rivals.

iPhone Air and iPhone 17 outperform expectations

The ultra-slim iPhone Air has won positive reviews, while iPhone 17 sales have outpaced the previous model by 14 per cent, according to Counterpoint Research. Brokerage Evercore ISI expects the strong demand to help Apple beat quarterly forecasts and issue an upbeat projection for the December quarter.

AI strategy still lags rivals

Apple’s earlier struggles this year stemmed from trade tensions and a cautious approach to AI, as competitors such as Meta, Google, and Microsoft forged ahead. Reports suggest Apple is in talks for potential partnerships with OpenAI, Anthropic, and Alphabet’s Gemini AI to strengthen its AI portfolio.

Investor confidence rebounds

Despite delays in rolling out its Apple Intelligence suite and a postponed Siri AI upgrade, Apple’s solid earnings and robust iPhone performance have restored market confidence. The company’s shares now trade at 33 times forward earnings, higher than the Nasdaq 100’s average of 27, signalling that investor faith in the iPhone maker’s comeback is firmly back on track.