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Apple nears $4 trillion market value milestone

MacDailyNews

Dec 23

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Fueled by investor enthusiasm for Apple’s rollout of Apple Intelligence features, expected to boost iPhone, iPad, and Mac sales, the company is nearing a historic $4 trillion market value.

Reuters:
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The latest rally in Apple shares reflects “investor enthusiasm for artificial intelligence and an expectation that it will result in a supercycle of iPhone upgrades,” said Tom Forte, an analyst at Maxim Group, who has a “hold” rating.
Valued at about $3.85 trillion as of the last close, Apple dwarfs the combined value of Germany and Switzerland’s main stock markets.
The Silicon Valley firm, driven by the so-called iPhone supercycles, was the first U.S. company to hit previous trillion-dollar milestones.
In recent years, the company has attracted criticism for being slow to map out its artificial intelligence strategy, while Microsoft, Alphabet, Amazon and Meta Platforms have pulled ahead to dominate the emerging technology… Apple earlier in December started integrating OpenAI’s ChatGPT into its devices after unveiling plans in June to integrate generative AI technology across its app suite.
“Although near-term iPhone demand is still muted… it is a function of limited Apple Intelligence features and geographic availability, and as both broaden, it will help to drive an improvement in iPhone demand,” Morgan Stanley analyst Erik Woodring said in a note, reiterating Apple as the brokerage’s “top pick” heading into 2025.

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MacDailyNews Take: Steve Jobs’ tremendous machine continues to barrel down the track!

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