Apple Inc. is closing in on a US$4 trillion market capitalization after its shares hit a record high on Monday, buoyed by stronger‑than‑expected demand for the iPhone 17 series. The company’s stock rose 4.2% to US$262.90, lifting its valuation to about US$3.9 trillion, according to market data.
China Drives Momentum
Research firm Counterpoint reported that iPhone 17 sales in China and the U.S. outpaced those of the iPhone 16 by 14% in the first 10 days of availability. Analysts attribute the surge to Apple’s decision to keep prices steady while offering notable hardware upgrades — including a faster chip, improved display, higher base storage, and enhanced camera features.
China, Apple’s second‑largest market, has been particularly critical. Despite rising competition from domestic brands such as Huawei, early sales figures show the iPhone 17 resonating strongly with Chinese consumers, helping Apple regain momentum after a challenging 2024.
Market Position
The rally places Apple just behind Nvidia, currently the world’s most valuable company, and ahead of Microsoft. If Apple crosses the US$4 trillion threshold, it would become the third company in history to do so, underscoring its resilience in a volatile tech sector.
Analyst Outlook
Wall Street firms including Evercore ISI have upgraded Apple’s stock, citing robust demand and expectations of record quarterly earnings when results are released on October 30. Analysts also point to Apple’s growing footprint in India, where iPhone 17 sales have surged during the festive season, as a further driver of growth.
Strategic Significance
The milestone reflects Apple’s ability to sustain global demand for its flagship product even amid slowing smartphone markets worldwide. Strong Chinese sales are seen as a critical counterweight to geopolitical headwinds and regulatory scrutiny in both Washington and Beijing.
Summary: Apple’s market value has climbed to US$3.9 trillion, driven by strong iPhone 17 sales in China and the U.S., leaving the company on the verge of a historic US$4 trillion valuation. Analysts expect continued momentum ahead of quarterly earnings, with China playing a decisive role in Apple’s growth trajectory.
Sources: Indian Express [1]; Business Times [2]; Moneycontrol [3]; Straits Times [8].
