Apple Tops $4 Trillion on iPhone Demand

Apple briefly reached a record $4 trillion market value on Tuesday, becoming the third public company to hit the milestone after Nvidia and Microsoft, as shares peaked around $269 before closing slightly lower. The surge was driven by stronger-than-expected demand for the new iPhone lineup — notably the iPhone 17 and the slim iPhone Air — with Counterpoint reporting the iPhone 17 outsold the iPhone 16 by about 14% in the first ten days in the US and China and shares up roughly 13% since the Sept. 9 launch. Analysts and brokerages including Evercore ISI, Wedbush and Loop say the rebound eases concerns about Apple’s slower AI investments and could help the company beat September-quarter expectations and issue upbeat guidance for the December holiday period. Apple’s manufacturing expansion in India, with Foxconn, Pegatron and Tata-linked facilities ramping production to serve U.S., European and local demand, has bolstered supply resilience amid tariff pressures. The milestone came amid a broader tech rally fueled by AI optimism — Microsoft also reclaimed a $4 trillion valuation after an OpenAI deal and Nvidia remains the sector leader — though some analysts caution Apple still trails in major AI spending despite renewed investor confidence in its iPhone franchise.