Apple has become the third company in the world with a market capitalization exceeding $4 trillion. This is attributed to better-than-expected demand for the iPhone 17 series. Apple is surpassed by Nvidia and Microsoft, whose shares have risen amid popular investments in the AI sector.
Apple shares rose 0.4%, bringing the company’s market capitalization to $4 trillion, Bloomberg reports. The iPhone maker became the third public company to reach this milestone, following chip maker NVIDIA and tech giant Microsoft. Nvidia’s market capitalization exceeded $4.5 trillion at the end of September, setting a world record.
Analysts attribute Apple’s rise to higher-than-expected demand for the new iPhone 17 series, released in September.
Bloomberg notes that Apple shares have risen more than 56% from their April low, increasing their market value by approximately $1.4 trillion.
According to Trading View, the top five companies by market capitalization are currently:
NVIDIA — $4.7 trillion; Microsoft — $4.6 trillion; Apple — $3.99 trillion; Alphabet — $3.24 trillion; Amazon — $2.42 trillion.
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