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Apple has for the first time surpassed a £3.2 trillion ($4 trillion) market value, making it the third major technology company globally to achieve this significant milestone. This surge was primarily driven by robust demand for its latest iPhone models, including the iPhone 17 lineup and iPhone Air.
The strong performance of these new devices helped to alleviate investor concerns regarding Apple’s relatively slower progress in artificial intelligence development. Industry data indicated that early sales of the iPhone 17 outperformed its predecessor by 14% in key markets such as the US and China.
Earlier this year, the company’s stock had faced challenges due to intense competition in China and uncertainties surrounding the impact of US tariffs on Asian manufacturing hubs. However, an approximately 13% gain in Apple shares since the new iPhone launch in early September, reaching an all-time high, solidified investor confidence, positioning Apple alongside NVIDIA and Microsoft in the £3.2 trillion ($4 trillion) club.
