Khaberni - Apple's market value exceeded four trillion dollars for the first time on Tuesday, as strong demand for the latest iPhone models offset concerns about its slow progress in the artificial intelligence race.
Thus, Apple has become the third major technology company to achieve this milestone.
The company's stock rose by 0.2 percent in recent trading to reach $269.2 in early transactions, marking an all-time high.
Apple's stock has risen by about 13 percent since the launch of its new phones on September 9, marking a notable turnaround that drove the stock to strong gains for the first time this year.
Before today's stock rise, Chris Zaccarelli, Chief Investment Officer at Northlight Asset Management, said "More than half of Apple's profits and revenues come from the iPhone. The more phones the company makes available to users, the more it can attract customers to its ecosystem."
Apple's stock had not seen major gains this year due to intense competition concerns in China and uncertainty about how the company would handle the high U.S. tariffs on Asian economies including China and India, which are Apple's main manufacturing hubs.
The latest smartphones, including the iPhone 17 series and iPhone Air, have attracted customers from Beijing to Moscow in the first few weeks of their launch, bearing the high costs of customs duties.
Apple is the third company to reach a market value of four trillion dollars after Nvidia and Microsoft. Nvidia currently tops the list with a market value exceeding 4.5 trillion dollars.
