Traders work on the floor of the New York Stock Exchange (NYSE) on October 17, 2025 in New York City. Spencer Platt | Getty Images News | Getty ImagesThis is CNBC's Morning Squawk newsletter. Subscribe here to receive future editions in your inbox.Here are five key things investors need to know to start the trading day:1. Pump the breaks2. Fed headU.S. White House economic adviser Kevin Hassett speaks to reporters at the White House in Washington, D.C., U.S., November 13, 2025. Kevin Lamarque | ReutersPresi ...

Core Insights - Apple achieved a market value of over $4 trillion for the first time, becoming the third Big Tech company to reach this milestone, following Nvidia and Microsoft [1][8] - The stock price remained stable at $269 after reaching an all-time high, with shares gaining approximately 13% since the launch of new iPhone models on September 9, marking a significant recovery for the year [1][3] iPhone Performance - The iPhone constitutes over half of Apple's profit and revenue, and increased sales drive customer engagement within Apple's ecosystem [3] - The latest iPhone models, including the iPhone 17 and iPhone Air, have attracted customers globally, with early sales of the iPhone 17 outperforming its predecessor by 14% in key markets like the US and China [4][5][7] Market Expectations - Analysts predict that strong demand for the new iPhones will enable Apple to exceed market expectations for the quarter ending in September and provide positive forecasts for the December quarter [7] - Apple's shares are currently trading at 33.2 times projected earnings for the next 12 months, which is higher than the Nasdaq 100's 27.42 [17] Competitive Landscape - Earlier in the year, Apple faced challenges due to competition in China and uncertainties regarding high US tariffs on Asian manufacturing hubs [4] - The iPhone Air's design is seen as a competitive advantage against rivals like Samsung Electronics [5] AI Strategy Concerns - Apple's cautious approach to artificial intelligence has raised concerns about its potential to miss out on significant growth opportunities in the industry [9][13] - Reports indicate that Apple is losing senior AI executives to competitors like Meta, and the rollout of its AI initiatives has been slower than expected [9][12]

Core Insights - Apple achieved a market value of over $4 trillion for the first time, becoming the third tech company to reach this milestone, alongside Microsoft and Nvidia [1][5] - The strong demand for the new iPhone 17 lineup has alleviated concerns regarding Apple's slow progress in artificial intelligence [1][4] - Apple's shares have increased approximately 13% since the launch of the new iPhones on September 9, marking a significant recovery for the stock this year [1] Company Performance - The iPhone contributes to over 50% of Apple's profit and revenue, indicating the importance of smartphone sales in driving the company's ecosystem [2] - Earlier in the year, Apple faced challenges due to competition in China and uncertainties related to high US tariffs on Asian manufacturing hubs [3] - The iPhone 17 has seen early sales outperform its predecessor by 14% in both the US and China, demonstrating strong market reception [4] Competitive Landscape - Apple's latest iPhone models have attracted customers globally, while the company has absorbed tariff costs rather than passing them onto consumers [4] - Despite some analysts suggesting that the iPhone Air has not met demand projections, others contest this view, indicating mixed opinions on production levels [4] AI Strategy - Apple's cautious approach to artificial intelligence has raised concerns about potentially missing out on significant growth opportunities in the sector [7] - The company has been slow to introduce its AI suite and has delayed upgrades to its voice assistant Siri, which has disappointed some consumers [8] Financial Outlook - Apple reported its strongest quarterly results in years during the April-June period, with double-digit growth across key segments, and is expected to announce its fourth-quarter results on October 30 [9]

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].