apple (NASDAQ: Image of AAPL) has reached a market value of $5 trillion, rising 21.5% last month and passing Nvidia(NASDAQ: NVDA) as the most valuable company, trading at $341.38 at the time of writing, July 29.
So, a $1,000 investment in the iPhone maker last month would be about $1,212, a gain of more than $200 in just four weeks as the shares went from $281.74 to $341.38 at press time.
The conference is particularly interesting because Apple has not been closely associated with artificial intelligence (AI) as well as some of its technology competitors, such as Nvidia and Micron Technology (NASDAQ: IN), who have been experiencing volatility during the same period, despite being close to the market leader.
By comparison, Micron fell 30% last month as worried investor about the sustainability of the boom driven by AI is more visible, while Nvidia shares fell by 1.3%, unable to regain the strength it enjoyed in the second quarter.
Apple competes ahead of profit as the iPhone maker becomes an important company
Thanks to the ongoing meeting, Apple has become the most powerful member of the Magnificent Seven technology in 2026. Tomorrow’s call, which is expected to be the last of Tim Cook as CEO, is expected to provide additional growth, since the company has beaten both the income and the income in each of the last eight quarters.
In the previous quarter, Apple posted revenue of $111.2 billion and earnings per share of $2.01, representing year-over-year increases of approximately 17%** and **22%, respectively. Operating income rose to $31 billion, which helped boost margins as recurring revenue continued to grow. This quarter, Wall Street expects Apple to report $1.89 per share on revenue of about $108.9 billion.
Demand for the iPhone remained steady, with shipments reported to be up 3% during the quarter, while Apple’s global market share reached 20%. The increase in hardware power can help grow the low-cost business, which has been driving economic growth among young people.
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