The company has pulled ahead of Nvidia and Microsoft in the race to the monumental milestone
) is closing in on a historic $4 trillion stock market valuation, powered by investors cheering progress in the company’s long-awaited AI enhancements to rejuvenate sluggish iPhone sales.) in the race to the monumental milestone, thanks to an about 16% jump in shares since early November that has added about $500 billion to its market capitalization.
The Silicon Valley firm, driven by the so-called iPhone supercycles, was the first U.S. company to hit previous trillion-dollar milestones. Apple earlier in December started integrating OpenAI’s ChatGPT into its devices after unveiling plans in June to integrate generative AI technology across its app suite.
Warren Buffett’s Berkshire Hathaway has sold shares of Apple - its top holding - this year, as the conglomerate broadly retreated from equities on concerns over stretched valuations. “We believe it’s likely Apple gets exclusions on products like iPhone, Mac and iPad, similar to the first round of China tariffs in 2018,” Woodring said.
The Fed’s action “could end up having a greater impact on some of the other cyclical areas such as consumer discretionary and financials and less so on technology.”
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