Apple’s stock hit a new record high last Monday, pushing the company closer than ever to the $4 trillion market capitalisation. This comes after early sales of the iPhone 17 series, which, according to reports, have outpaced the iPhone 16’s debut by 14% in the first 10 days of launch across key markets.
Shares rose 4.2% to $262.90, valuing Apple at roughly $3.9 trillion. While the tech giant remains one of the world’s most valuable companies, the market has been competitive, with NVIDIA recently briefly surpassing Apple’s valuation amid gains in the semiconductor sector.
Investor optimism is driven by the iPhone 17’s strong demand and anticipation of Apple’s upcoming quarterly earnings report scheduled for October 30. Analysts expect the company to exceed earnings estimates this quarter. They also noted Apple’s recent launch of online ordering in China could further accelerate sales momentum heading into December.
Earlier in the year, Apple’s stock faced pressure due to intensified competition in China and uncertainties around U.S. tariffs on products manufactured in Asia. However, sentiment has improved markedly since August following Apple’s announcement of a $100 billion investment plan in the United States, which analysts believe may help mitigate some trade-related risks.
