Apple crosses $4 trillion market cap for the first time; Microsoft returns to the league

iPhone maker, Apple's shares rose to hit a fresh 52-week high of $269.89, resulting in crossing the $4 trillion market capitalisation, making it the third company to achieve this milestone, behind Nvidia and Microsoft. Yet, at the time of closing, the share price declined, with the valuation settling at $3.99 trillion. 

Apple shares have risen around 6% over the span of a month, as a result of an increase in the iPhone 17 series sales, which was launched in September. The stock price has advanced by 27.36% over six months. 

Apple shares have risen around 6% over the span of a month, as a result of an increase in the iPhone 17 series sales, which were launched in September. The stock price has advanced by 27.36% over six months. The increase in sales numbers has offset the fear around US tariffs on iPhones and other products manufactured outside of American soil, which was otherwise the cause of concern for Apple shares earlier this year. 

Microsoft shares also jumped 2% in Tuesday's trade, leading to the company's market cap of $4.03 trillion, and held the valuation unlike Apple. Microsoft had reached the $4 trillion mark in July this year as well. Shares of Microsoft surged after the company, which has a 27% stake in OpenAI, announced a deal to allow the ChatGPT maker to restructure itself into a for-profit corporation.

On the other hand, Nvidia, the first to make it to the $4 trillion club in July also noted a new all-time high of $201.03, surging 5% in Tuesday's trade. The reason for the sharp rise was the announcement of the chip maker entering a partnership with Nokia, while investing $1 billion. The partnership aims to accelerate the development and deployment of next-generation AI-native mobile networks and AI networking infrastructure, as per the statement.