Apple sets a new stock market record: it is now worth more than 5,200 billion dollars

Apple shares have risen by more than 1 per cent on Wall Street, reaching $360.83 on the Nasdaq – the highest level in the company’s history: the Cupertino-based firm is now worth over 5,200 billion dollars, cementing its position as the world’s most valuable company by market capitalisation. The Cupertino-based company’s rise is being driven by strong iPhone sales, growth prospects and a more cautious strategy regarding investment in artificial intelligence compared with that of its main competitors.

The turmoil at Nvidia, followingJensen Huang’s departure as the company’s CEO and the recent slump in its share price on the stock market has not affected the Cupertino giant, which appears unfazed even by the comments of US President Donald Trump, who suggested former Apple CEO Tim Cook as Huang’s replacement. A figure who, as analysts point out, has already faced a similar challenge whilst at the helm of the iPhone manufacturer.

In the last quarter, Apple exceeded Wall Street’s forecasts for both revenue and profits. In the fourth fiscal quarter, the Cupertino-based group recorded revenue of $114.5 billion, up 12 per cent year-on-year. Diluted earnings per share, meanwhile, rose by 14% to $2.10, exceeding the market’s forecast of $1.99. The gross margin stood at 47.9 per cent, benefiting by around one percentage point from refunds on tariffs, which also contributed 5 cents to earnings per share.

The quarter saw new September highs in iPhone sales and services, whilst the full financial year closed with record revenue of $479 billion and double-digit growth in earnings per share. Gross margin, an indicator closely monitored by investors, also stood at 47.9 per cent, slightly above analysts’ forecasts. However, growth in Apple’s services division, which is characterised by high profit margins, continues to slow.