"Apple's shares had struggled earlier this year on concerns over tough competition in China and how it would cope with high US tariffs on Asian economies such as China and India, its main manufacturing hubs. However, the latest smartphones, the iPhone 17 lineup, have won back customers from Beijing to Moscow, while the company has swallowed tariff costs instead of passing them on to consumers."
"Nvidia was the first, in July, as the chip designer rode the wave of AI spending. It currently leads with a market value of more than $4.5tn. Microsoft hit the $4tn mark a few weeks later in July. After a subsequent dip in its share price, it reclaimed its membership in the $4tn club on Tuesday after it announced a deal with OpenAI to allow the ChatGPT maker to restructure itself into a for-profit corporation."
Apple reached a market valuation above $4 trillion after strong demand for its latest iPhone lineup and a share price rise of more than 50% since April. The iPhone produces over half of Apple's profit and revenue and helps bring users into its ecosystem. The iPhone 17 lineup recovered customers across markets from Beijing to Moscow, with early sales outperforming its predecessor by 14% in the US and China. Apple absorbed higher US tariffs on Asian manufacturing hubs instead of passing costs to consumers. Analysts said the iPhone Air's slim design could fend off rivals like Samsung. Apple joined Nvidia and Microsoft as the only companies to exceed $4 trillion.
Read at www.theguardian.com
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