Apple approaches $4 trillion valuation as investors bet on AI momentum
stock market valuation, powered by investors cheering progress in the company's long-awaited AI enhancements to rejuvenate sluggish iPhone sales.
The company has pulled ahead of Nvidia and Microsoft in the race to the monumental milestone, thanks to an about 16% jump in shares since early November that has added about $500 billion to its market capitalization.
The latest rally in Apple shares reflects «investor enthusiasm for artificial intelligence and an expectation that it will result in a supercycle of iPhone upgrades,» said Tom Forte, an analyst at Maxim Group, who has a «hold» rating.
Valued at about $3.85 trillion as of the last close, Apple dwarfs the combined value of Germany and Switzerland's main stock markets.
The Silicon Valley firm, driven by the so-called iPhone supercycles, was the first U.S. company to hit previous trillion-dollar milestones.
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