Apple hits $4 trillion market cap, joins Nvidia and Microsoft to reach milestone

Core Insights - Apple Inc's market capitalization reached a historic $4 trillion on October 28, making it the third public company to achieve this milestone after Nvidia and Microsoft [1][4] - The increase in share price is attributed to strong demand for the iPhone 17 series, which outsold the iPhone 16 series by 14% in their first 10 days on sale in China and the United States [1][2] - Since April, Apple's shares have increased by over 56%, adding approximately $1.4 trillion in market value [2] Product Launches - In addition to the iPhone 17 series, Apple launched new versions of the iPad Pro, Vision Pro, and entry-level MacBook Pro featuring the new M5 chip, which are expected to boost retail sales ahead of the holiday season [2] Analyst Perspectives - Analysts noted that while Apple has lagged in the artificial intelligence (AI) sector, its consumer products have been successful. Dan Ives from Wedbush Securities highlighted that reaching the $4 trillion market cap is a significant achievement for Apple [3] - Loop analyst Ananda Baruah upgraded his view on Apple stock to "buy" from "hold," indicating that the company is at the beginning of a long-anticipated adoption cycle [3] Market Position - Apple is now part of the exclusive $4 trillion market cap club, joining Nvidia and Microsoft, which also reached this milestone recently [4] - Despite being one of the largest companies globally, analysts are divided on Apple, with the lowest ratio of buy recommendations among the Magnificent Seven companies, except for Tesla [5]