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APPL Launches 1st Batch of AI Tools as Race to $4T Begins

Simon Osuji by Simon Osuji
October 29, 2024
in Business
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APPL Launches 1st Batch of AI Tools as Race to $4T Begins
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In what is a monumental moment for the company, Apple (APPL) has released its first batch of AI tools for products as stocks race to reach a $4 trillion market cap is officially underway. The company has begun the rollout of artificial intelligence products for the iPhone, iPad, and iMac.

The release is for users of these products in the United States and represents a massive milestone for the company. The generative AI tools were first announced in June. Moreover, they represent the first official AI venture for the company’s immensely successful line of products. They couldn’t have come at a better time, with 2025 likely to see APPL and Nvidia (NVDA) eyeing the record market cap figure.

apple iphone 16apple iphone 16
Source: Apple Inc

Also Read: Apple (AAPL) Stock Plummets: iPhone 16 Orders Slashed by 10M Units

Four years ago, Apple became the first company to reach a $2 trillion market cap. It had more than doubled its value in two years, reaching the milestone in August of 2020. It was a key shift, as it became one of the most valuable companies in history, with no signs of looking back.

That continued three years later, in June of 2023, when it then became the first company to reach a $3 trillion market cap. With no step back in sight, it was poised to continue on that trajectory. Yet that prospect became a little more complicated with the arrival of Nvidia and the AI boom.

With the release of OpenAI’s ChatGPT, consumers sought artificial intelligence across nearly all sectors. That was reflected in the stock market. Seemingly out of nowhere, an AI arms race was born, with companies developing their own ways to compete.

Apple iPhone 14 Tim CookApple iPhone 14 Tim Cook
Source: Apple

Also Read: Nvidia: Can NVDA Hit $4T Market Cap Before Apple, Microsoft?

That has culminated in a massive moment for Apple, as they have unveiled their first batch of AI tools with the race for a $4 trillion market cap beginning. The company announced users will be able to use Apple Intelligence—its AI offering—across its various products through a free software update.

It is their first real foray into the newly developing sector. Moreover, a positive reception could have the company seeking to be the first to reach a $4 trillion market cap. In order to set the record, it would have to outpace Nvidia and Microsoft (MSFT), both of which have a firm grasp of AI technology.

A report from Investors Business Daily projects Apple to reach a $3.66 trillion market cap in the next 12 months. Moreover, they predict that to be the third highest, behind Nvidia’s $3.68 trillion and Micrsofots $3.77 trillion, respectively. It could, theoretically, still leave the door open for Apple to make up notable ground.

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