Apple’s market value nears $4 trillion thanks to AI

Apple is nearing a historic $4 trillion market value, supported by investors welcoming the company’s improvements in artificial intelligence to support declining iPhone sales.

The company has moved ahead of Nvidia and Microsoft in the race to that huge value, thanks to a jump of about 16% in its share price since early November, adding about $500 billion to its market value.

Apple’s rise reflects “investors’ enthusiasm for artificial intelligence and the expectation that it will lead to a super cycle of iPhone updates,” according to Tom Forte, an analyst at Maxim Group, which rates the stock a “hold.” According to CNBC, Apple’s market value is estimated at about $3.85 trillion based on its latest closing price, a huge value that exceeds the total value of the two main stock markets in Germany and Switzerland combined.