Apple hits $4 trillion market value as new iPhone models revitalize sales

Core Viewpoint - Apple briefly reached a market value of $4 trillion, driven by strong demand for its latest iPhone models, alleviating concerns over its AI progress [1][5]. Group 1: Market Performance - Apple's stock rose to $269.89, achieving a market value of $4.005 trillion before closing at $3.992 trillion, up 0.1% for the day [1]. - Since the new iPhone launches on September 9, Apple's shares have increased by approximately 13%, marking a positive turnaround for the year [2]. Group 2: Product Demand and Competition - The iPhone contributes over 50% to Apple's profit and revenue, with the company aiming to expand its ecosystem through increased iPhone sales [2]. - The iPhone 17 and iPhone Air have attracted customers back from various markets, with early sales of the iPhone 17 outperforming its predecessor by 14% in the U.S. and China [3][4]. Group 3: Challenges and AI Strategy - Earlier in the year, Apple faced challenges due to competition in China and uncertainties regarding U.S. tariffs on Asian manufacturing [3]. - Concerns about Apple's slow AI strategy have emerged, with reports of senior AI executives leaving for Meta and delays in AI product rollouts [5][6][7].