Apple is closing in on a historic $4 trillion stock market valuation, powered by investors cheering progress in the company's long-awaited AI enhancements to rejuvenate sluggish iPhone sales.

Apple Inc. is on the verge of achieving a $4 trillion market valuation, a record-breaking milestone in the tech industry. The surge is fueled by investor confidence in the company’s push into artificial intelligence (AI) and hopes for a revival in iPhone sales.

Apple’s (AAPL) artificial intelligence rollout could drive demand for the iPhone 16 this holiday season — and send the tech giant’s market value to a new record high.

Apple is positioning itself for a significant market cap milestone as it plans to integrate new AI features and capitalize on a potential iPhone “supercycle,” according to Wedbush Securities analyst Dan Ives.