Apple has achieved a significant milestone by surpassing a market value of $4 trillion, making it the third major technology company to reach this landmark, following Nvidia and Microsoft. This achievement comes on the back of strong sales for its latest iPhone models, particularly the iPhone 17 series and the iPhone Air, which were launched on September 9. In early trading on Tuesday, Apple’s shares rose by 0.2% to a record high of $269.87, reflecting a remarkable 13% increase since the new product launches.

Analysts attribute this surge in stock value to renewed consumer interest in Apple’s flagship devices, which has helped alleviate concerns regarding competition in China and uncertainties related to U.S. tariffs on Asian manufacturing. According to data from Counterpoint Research, initial sales of the iPhone 17 have outperformed its predecessor by 14% in both the U.S. and China. The introduction of the slimmer iPhone Air has also played a crucial role in boosting demand, allowing Apple to regain market share against competitors like Samsung.

Brokerage Evercore ISI has indicated that the strong demand for these new iPhones is likely to help Apple exceed market expectations for the quarter ending in September and provide a positive outlook for the December quarter. Apple is set to announce its fourth-quarter earnings on October 30.

Despite this success, Apple faces ongoing scrutiny regarding its artificial intelligence (AI) strategy. The rollout of its Apple Intelligence platform, which includes a ChatGPT integration and enhancements to Siri, has been slower compared to its competitors. Reports suggest that some of Apple’s senior AI executives have moved to Meta, raising concerns about the company’s future in this rapidly evolving sector.

Currently, Apple’s shares are trading at 33.2 times its projected earnings for the next 12 months, which is higher than the Nasdaq 100’s multiple of 27.4. While Apple’s stock has increased by over 10% this year, it still lags behind the Nasdaq’s overall gain of approximately 22%. As Apple continues to navigate these challenges, its recent achievements mark a significant moment in its corporate history.