Apple nears $4 trillion valuation

Core Viewpoint - Apple is approaching a significant milestone with a market cap of $4 trillion, driven by strong sales of the iPhone 17, particularly in China and the U.S. [1][3] Group 1: Market Performance - Apple shares are currently up 1%, just shy of the $4 trillion market cap milestone [1] - JPMorgan has raised its price target for Apple to $290, indicating a potential upside of 10-12% from the previous closing price [2] Group 2: Product Performance - The iPhone 17 base model is performing exceptionally well in China due to subsidies, while the Pro and Pro Max models are also seeing strong sales in the U.S. [3] - Although the iPhone Air is not selling as well, the success of the higher-end models compensates for this [4] Group 3: Future Expectations - Analysts expect robust topline revenue growth in the high single digits for both the September and December quarters [2] - There is optimism surrounding the iPhone 18 and the 20th anniversary edition of the iPhone, which are anticipated to introduce new features and form factors [8] Group 4: Market Sentiment - The market has adjusted to Apple's current lack of significant AI developments, with expectations for AI updates to come next year [4][7] - Lead times for iPhone orders remain longer than the previous year, suggesting higher demand and contributing to positive market sentiment [7]