Apple enters $4 trillion club: iPhone maker reaches mark 1st time; what helped company
AI Summary
Apple's market capitalization surpassed $4 trillion for the first time due to a 25% increase in share prices over three months, driven by strong sales of the iPhone 17 models released in September. JPMorgan analyst Samik Chatterjee attributed this achievement to Apple’s strategic shift in manufacturing from China to India and Vietnam, improving its position regarding US tariffs. Additionally, a judge's ruling allowed Google to continue paying Apple for preloading its search engine on iPhones. Microsoft also briefly crossed the $4 trillion mark, while Nvidia remains the world's most valuable company with a market cap over $4.6 trillion. Both tech giants are scheduled to report their fiscal fourth-quarter earnings soon.
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