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Apple is nearing an unprecedented $4 trillion stock market valuation due to investor optimism surrounding its recent advancements in artificial intelligence (AI) and hopes for a revival in iPhone sales, according to a report by Reuters.

The tech giant’s stock has surged approximately 16% since early November, adding $500 billion to its market capitalisation. At the time of writing, Apple is valued at $3.86 trillion.

This marks a significant lead over competitors such as Nvidia and Microsoft. Analysts have pointed to Apple’s integration of OpenAI’s ChatGPT across its devices earlier this month as a key factor in boosting sentiment, as per the report.

Apple’s fiscal first-quarter revenue forecast indicates modest growth in the “low- to mid-single digits”, raising questions about the momentum of the iPhone 16 series during the holiday shopping season. However, analysts expect a rebound in iPhone revenue by 2025, driven by expanding AI capabilities and wider geographic availability.