Apple shares climbed to a new high on Monday, as the iPhone maker is racing towards becoming the first company to reach a $4 trillion market valuation, ahead of its tech rivals Nvidia and Microsoft.
Apple stock reached its all-time high of $255.65 a share shortly after opening bell on Monday before ending the day at $255.27.
In a client note before trading opened on Monday, Wedbush analyst Dan Ives told clients in a note that he believes Apple will cross the $4 trillion threshold in early 2025. Mr Ives said Nvidia and Microsoft would join soon after, noting that Wedbush anticipates tech stocks to be up another 25 per cent in 2025 under their base case.
Apple's market cap was $3.858 trillion after trading closed on Monday. Nvidia and Microsoft held market caps of $3.420 trillion and $3.236 trillion.
The California-based company has faced criticism in the past for not being as fast as its competitors in shifting towards artificial intelligence. Its stock has doubled in the past two years, compared to Nvidia, whose stock has increased more than 800 per cent.
Apple began making its new AI features, known as Apple Intelligence, for iPhone 15 Pro and iPhone 16 users in October. Apple chief executive Tim Cook told analysts during a call in October that the new feature was the start of a new chapter for the company.
“This is just the beginning of what we believe generative AI can do and I couldn't be more excited for what's to come,” Mr Cook said.
Apple began incorporating OpenAI's ChatGPT into its devices this month. The company also released four iPhone16 models that are equipped with the chips necessary to use AI features.
Wedbush analysts expect the strong demand from Apple's AI-powered iPhone could lead to more than 240 million sales in the fiscal year 2025. It would be the company's highest unit sales ever.
Apple drew $94.9 billion in revenue for the fourth quarter the last fiscal year, of which $46.22 billion came from the iPhone. Sales in the devices were up 6 per cent from the previous year.
'Unrivaled: Why America Will Remain the World’s Sole Superpower'
Michael Beckley, Cornell Press
If you go
The Flights
Emirates and Etihad fly direct to Johannesburg from Dubai and Abu Dhabi respectively. Economy return tickets cost from Dh2,650, including taxes.
The trip
Worldwide Motorhoming Holidays (worldwidemotorhomingholidays.co.uk) operates fly-drive motorhome holidays in eight destinations, including South Africa. Its 14-day Kruger and the Battlefields itinerary starts from Dh17,500, including campgrounds, excursions, unit hire and flights. Bobo Campers has a range of RVs for hire, including the 4-berth Discoverer 4 from Dh600 per day.
KEY%20DATES%20IN%20AMAZON'S%20HISTORY
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Killing of Qassem Suleimani
MATCH INFO
Uefa Champions League semi-final, second leg result:
Ajax 2-3 Tottenham
Tottenham advance on away goals rule after tie ends 3-3 on aggregate
Final: June 1, Madrid
UAE currency: the story behind the money in your pockets
The specs
Engine: four-litre V6 and 3.5-litre V6 twin-turbo
Transmission: six-speed and 10-speed
Power: 271 and 409 horsepower
Torque: 385 and 650Nm
Price: from Dh229,900 to Dh355,000
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Match info
Karnataka Tuskers 110-3
J Charles 35, M Pretorius 1-19, Z Khan 0-16
Deccan Gladiators 111-5 in 8.3 overs
K Pollard 45*, S Zadran 2-18
Company%20Profile
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If you go
Where to stay: Courtyard by Marriott Titusville Kennedy Space Centre has unparalleled views of the Indian River. Alligators can be spotted from hotel room balconies, as can several rocket launch sites. The hotel also boasts cool space-themed decor.
When to go: Florida is best experienced during the winter months, from November to May, before the humidity kicks in.
How to get there: Emirates currently flies from Dubai to Orlando five times a week.
How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
Farasan Boat: 128km Away from Anchorage
Director: Mowaffaq Alobaid
Stars: Abdulaziz Almadhi, Mohammed Al Akkasi, Ali Al Suhaibani
Rating: 4/5
COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
Call of Duty: Black Ops 6
Developer: Treyarch, Raven Software
Publisher: Activision
Console: PlayStation 4 & 5, Windows, Xbox One & Series X/S
Rating: 3.5/5
The specs
Engine: Dual 180kW and 300kW front and rear motors
Power: 480kW
Torque: 850Nm
Transmission: Single-speed automatic
Price: From Dh359,900 ($98,000)
On sale: Now
The Cockroach
(Vintage)
Ian McEwan
COMPANY PROFILE
Name: HyperSpace
Started: 2020
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
Based: Dubai, UAE
Sector: Entertainment
Number of staff: 210
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
