Zayed Rehman·

Apple Nears $4 Trillion Market-Cap, First For Any Company Thanks To AI And iPhone Growth

Apple is on the verge of making history as the first company to hit a $4 trillion market valuation, according to Fortune.

The iPhone-maker’s stock has gone up by nearly 40% in 2024, bringing its market cap to $3.92 trillion as of December 27. A modest increase in stock value could push Apple past this historic benchmark, with analysts crediting its growth to AI advancements and strong iPhone upgrade cycles.

Wedbush analyst Daniel Ives described Apple as entering a “golden era of growth,” largely fueled by its ambitious AI initiative, Apple Intelligence. With hundreds of apps reportedly in development under this platform, Ives predicts it will spark a new multi-billion-dollar revenue stream while boosting iPhone upgrades over the next 12-18 months. He raised his price target for Apple’s stock to $325, highlighting the market’s underestimation of Apple’s long-term AI strategy.

JPMorgan analyst Samik Chatterjee echoed the optimism, citing Apple’s growing device ecosystem, which surpassed two billion active units in 2023. He also emphasized Apple’s shift toward services and its focus on capital returns, including dividends and stock buybacks, as key contributors to its sustained growth.

While competitors like Microsoft ($3.26 trillion) and Nvidia ($3.43 trillion) are also advancing in AI, Apple’s seamless integration of hardware and software gives it a unique edge.

As it continues to innovate and expand its ecosystem, Apple’s $4 trillion milestone seems almost inevitable—a testament to its dominance in the tech world.

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