"Apple has become the third company to see its market capitalization top $4 trillion, underscoring its role as one of the leading publicly traded tech companies and making it the second-most valuable company in the world. Shares of the company briefly topped $269.53 soon after trading began on Tuesday, putting it above the milestone. Apple was the first company to top $1 trillion, $2 trillion, and $3 trillion in market capitalization. But Nvidia beat it to the $4 trillion mark, on the back of surging investor interest in artificial intelligence. That company's staggering chip sales have boosted its stock more than 400% since October 2023."
"Apple's march to $4 trillion began in earnest on October 20, when Loop Capital upgraded its rating from "hold" to "buy," citing improving demand for the iPhone. In a note to investors, the firm wrote: "We are now at the front end of AAPL's long-anticipated adoption cycle that suggests ongoing iPhone shipment expansion through CY2027." The stock hit an all-time high following that upgrade."
"Nvidia seems to be the new market leader and is on the path to be the first to reach $5 trillion. But from the dizzying heights of Big Tech, things shift quickly. Microsoft, for example, was the second company to hit a market cap of $4 trillion, topping it on July 30, following a strong earnings beat. But it lost ground, sending its market cap lower than Apple's for a period of time. (Microsoft surged above the milestone once more on Tuesday as well.)"
Apple's market value exceeded $4 trillion, placing it as the second-most valuable publicly traded company. Shares briefly topped $269.53 early on Tuesday to reach the milestone. Apple previously led the way to $1 trillion, $2 trillion, and $3 trillion valuations, but Nvidia reached $4 trillion first driven by surging investor interest in artificial intelligence and exceptional chip sales. Loop Capital's October upgrade to "buy" cited improving iPhone demand and forecasted shipment expansion through 2027, triggering an all-time high in the stock. Market-cap milestones signal rapid growth but can shift quickly among Big Tech leaders.
Read at Fast Company
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