Apple briefly surpassed a market value of $4 trillion, driven by strong demand for its new iPhone models. Shares rose 13% since September 9, pushing the stock into positive territory for the year. Analysts expect robust iPhone sales to exceed market expectations, boosting forecasts for the upcoming quarters.

Despite concerns earlier this year, Apple’s latest smartphones, including the iPhone 17 and iPhone Air, have attracted customers worldwide. The iPhone Air’s sleek design could help it compete with rivals like Samsung, while early sales of the iPhone 17 surpassed its predecessor by 14% in the US and China.

Apple’s cautious approach to AI has raised concerns, with reports of senior AI executives leaving for Meta. The company’s AI strategy rollout has been slow, with delays in Siri upgrades. Apple has explored partnerships with Alphabet’s Gemini AI and other firms to enhance its AI capabilities.

Apple reported strong quarterly results in April-June, exceeding expectations across key segments. The company’s fourth-quarter results are anticipated on October 30. Despite a 7% stock gain this year, Apple’s shares trade at 33 times earnings, higher than Nasdaq 100’s 27, reflecting investor optimism in its growth potential.

Read more at Yahoo Finance: Apple hits $4 trillion market value as new iPhone models revitalize sales