Apple becomes 3rd company to hit $4tn valuation
Apple has officially joined the $4 trillion club, becoming the third company ever to reach this milestone after NVIDIA and Microsoft.
This record was set on Tuesday, thanks to a 13% jump in Apple's stock since the iPhone 17 and iPhone Air dropped in September.
With iPhones making up more than half of Apple's profits, these launches have pushed the company's shares into positive territory for the first time this year.
iPhone 17 sales up 14% over last year's model
The iPhone 17 series is off to a strong start, with early sales up 14% over last year's model in both the US and China, according to Counterpoint.
Analysts said the iPhone Air's slim design could help fend off rivals such as Samsung Electronics.
Apple's April-June 2024 results showed double-digit growth across key segments, setting the stage for its next earnings reveal on October 30.
Apple's cautious approach to AI could slow stock momentum
While Apple's hardware is crushing it, its approach to AI is still pretty cautious.
Updates to Siri and the Apple Intelligence suite—including ChatGPT features—are delayed until 2026.
Apple is exploring partnerships with OpenAI, Google Gemini, and Anthropic, but some analysts think the lack of a bold AI move could slow down its stock momentum.