Apple just joined Nvidia and Microsoft in the $4 trillion club

Core Insights - Apple has achieved a market capitalization of $4 trillion, becoming the third public company to reach this milestone, following Nvidia and Microsoft [1][4] - The stock price of Apple reached approximately $270 during early trading, contributing to its market cap before experiencing a slight retreat [1] - The recent surge in Apple's stock is attributed to positive sentiment surrounding the new iPhone 17, which has reportedly outsold its predecessor in the US and China within the first 10 days of its release [2] Financial Performance - In the last financial year, Apple reported net sales of $391 billion and a net income of $94 billion [4] - The company generated over $200 billion from iPhone sales, $96 billion from services, $30 billion from Macs, $27 billion from iPads, and $37 billion from other devices [4] Market Context - US stocks opened higher, buoyed by strong earnings and reduced concerns over a US-China trade war, with Apple consistently ranking among the world's most valuable companies [3] - Despite the recent rally, Apple's stock has only increased by about 7% year to date, as investors express concerns about its position in the AI sector compared to Nvidia and Microsoft, which have seen gains of 44% and 29% respectively [2]