Apple Inc.'s (NASDAQ:AAPL) valuation has officially shattered records, trading at an unprecedented 11 times its sales revenue just as CEO Tim Cook prepares to oversee his final earnings report.
The technology behemoth touched an intraday all-time high of $334.99 on Friday, July 17, reflecting surging investor optimism in artificial intelligence and pushing the company to its "highest valuation level in company history." Artificial Intelligence Drives Sentiment Shift Apple's recent stock surge on Friday briefly propelled it past Nvidia Corp.
(NASDAQ:NVDA) to reclaim the title of the world's most valuable company, with a market valuation reaching $4.88 trillion.
This milestone highlights a significant shift in market perception regarding the company's technological roadmap.
"Apple was seen as a laggard in the AI race because it wasn’t spending to develop models, but now sentiment has changed," Toni Meadows, head of investment at BRI Wealth Management, told The Guardian.
