Apple and Microsoft Break Through $4 Trillion Market Cap Threshold

Apple and Microsoft have joined Nvidia in the $4 trillion market capitalization club, driven by the momentum of Apple's iPhone 17 and Microsoft's recent deal with OpenAI. The gains in these stocks are supporting the major US averages, which are sitting at record highs. Analyst Dan Ives of Wedbush Securities believes investors are underestimating Apple's potential, citing estimates of 315 million iPhones globally not upgrading in the last 4 years. Apple and Microsoft will report quarterly results on Thursday and Wednesday after the close of trading, respectively.