Apple’s market capitalization reached the $4 trillion mark in early morning trading in the U.S. This increase follows the unveiling of the new iPhones in early September. The latest model is expected to alleviate concerns regarding Apple’s ability to compete in the artificial intelligence race.
Earlier this year, there were apprehensions about Apple’s capacity to handle rising competition from China and the uncertainties stemming from the trade war. Fears were prevalent that import tariffs would significantly impact operations in China and India, where Apple has substantial production facilities.
NVIDIA became the first company to reach the $4 trillion milestone in early July. The chip manufacturer has greatly benefited from the surging demand for AI technology in recent years. Currently, NVIDIA’s valuation stands at $4.5 trillion. Microsoft has also surpassed the $4 trillion mark.
