13 hours Ago
Apple is nearing an unprecedented $4 trillion stock market valuation due to investor optimism surrounding its recent advancements in artificial intelligence (AI) and hopes for a revival in iPhone sales, according to a recent report by Reuters. The tech giant's stock has surged approximately 16% since early November, adding $500 billion to its market capitalisation. Apple is now valued at $3.
85 trillion, surpassing the combined market value of Germany and Switzerland's main stock exchanges. This marks a significant lead over competitors such as Nvidia and Microsoft. Analysts have pointed to Apple's integration of OpenAI's ChatGPT across its devices earlier this month as a key factor in boosting sentiment, as per the report.
Despite Apple's relative lag in outlining its AI strategy compared to Microsoft, Alphabet, Amazon, and Meta Platforms, the company's recent moves suggest a renewed focus on leveraging AI technologies. In June, Apple announced plans to integrate generative AI across its app ecosystem, which has since sparked optimism about its potential to increase product demand. Apple's fiscal first-quarter revenue forecast indicates modest growth in the "low- to mid-single digits," raising questions about the momentum of the iPhone 16 series during the holiday shopping season.
However, analysts expect a rebound in iPhone revenue by 2025, driven by expanding AI capabilities and wider geographic availability, according to the report. Apple is nearing an unprecedented $4 trillion stock market valuation due to investor optimism surrounding its recent advancements in artificial intelligence (AI) and hopes for a revival in iPhone sales, according to a recent report by Reuters. The tech giant's stock has surged approximately 16% since early November, adding $500 billion to its market capitalisation.
Apple is now valued at $3.85 trillion, surpassing the combined market value of Germany and Switzerland's main stock exchanges. This marks a significant lead over competitors such as Nvidia and Microsoft.
Analysts have pointed to Apple's integration of OpenAI's ChatGPT across its devices earlier this month as a key factor in boosting sentiment, as per the report. Despite Apple's relative lag in outlining its AI strategy compared to Microsoft, Alphabet, Amazon, and Meta Platforms, the company's recent moves suggest a renewed focus on leveraging AI technologies. In June, Apple announced plans to integrate generative AI across its app ecosystem, which has since sparked optimism about its potential to increase product demand.
Apple's fiscal first-quarter revenue forecast indicates modest growth in the "low- to mid-single digits," raising questions about the momentum of the iPhone 16 series during the holiday shopping season. However, analysts expect a rebound in iPhone revenue by 2025, driven by expanding AI capabilities and wider geographic availability, according to the report..
