Name: Apple nears $4 trillion valuation
Uploaded: 2025-10-27T17:11:13.465Z
Duration: 2 min 36 s
Description: CNBC’s Steve Kovach reports on Apple as the iPhone maker is en route to hit a $4 trillion market cap.

CNBC’s Steve Kovach reports on Apple as the iPhone maker is en route to hit a $4 trillion market cap.

Apple is on the verge of reaching a $4 trillion market capitalization, fueled by robust sales of the iPhone 17, especially in China and the United States. Analysts, including JPMorgan, have raised their price targets for Apple, citing strong revenue growth expectations for upcoming quarters. The momentum is attributed to high demand for premium iPhone models, with Chinese subsidies boosting sales and longer lead times indicating sustained consumer interest.

Despite holding off on major artificial intelligence updates, Apple has maintained investor confidence and navigated recent tariff challenges. While some analysts remain cautious about the clarity of the current iPhone cycle, the ongoing sales performance and anticipation for future models, such as the iPhone 18 and the 20th anniversary edition, continue to support Apple's upward trajectory.

Apple nears $4 trillion valuation

Welcome. Not the only tech name on the move today. We're also on Apple four trillion watch this morning for that milestone market cap. Steve Kovac has more. Yeah we're about four bucks shy. We see that milestone there when they hit four trillion. It's up 1 percent right now. And look this really came as we've seen so much momentum guys behind the iPhone 17. JPM is just the latest firm this morning to really jump on the bandwagon increasing the price target to two hundred ninety bucks. And that's just a few about 10 or 12 percent from Friday's closing price. And they're also saying get ready for some surprising upside in the December quarter guidance saying it's going to be robust saying to expect growth or top line revenue growth rather in the high single digits. They're also expecting that for their September quarter results. And it's all because of the same stuff we've been talking about since this rally really kicked into high gear about 10 days or so. It's iPhone 17. The base model selling extremely well in China due to those Chinese subsidies. It's the iPhone 17 pro and pro max selling well here in the United States. The iPhone air not selling as well. But it really doesn't matter if there's more high end phones are taking up the share of that. And then this is all happening guys without any answer to artificial intelligence. Apple is kind of taking the year off after delaying its big AI update to Siri. And the market is kind of accepting that now that that is behind it. Now that it's kind of mitigated the worst the tariffs after it's after Tim Cook really smooth things over with his relationship with President Trump. And so now we just look forward to earnings and seeing if they can actually deliver based on all these whispers and momentum we've been seeing in the sales data guys. Yeah I did notice D.A. Davidson reiterated their neutral Steve. They argued that it's a little bit too early to get good clarity on the iPhone cycle. Yeah that's also possible. But I mean look what people have been doing over the last month or so since the phones went on sale. Carl is looking at those lead times. So when you order your phone it says you know you'll get it in 10 days or 14 days. Those lead times continue to remain longer than they were a year ago. So that's where all the optimism is coming in because that implies demand is higher than it was a year ago. All without artificial intelligence. So the read on this is we don't need to necessarily have a good A.I. story for Apple until the end of the year. We're going to get that next year. And in the meantime it's the momentum excitement around the iPhone 17 the iPhone 18 next year with that portable version and then even a year beyond that the 20th anniversary edition of the iPhone which is also expected to be a new form factor and a bunch of new hardware features. Right.

FBI Director Kash Patel announced an operation that apparently "thwarted a potential terrorist attack" during Halloween weekend in Michigan. CBS News' Scott MacFarlane has more.

Dearborn

Patel says FBI stopped a potential "terror attack" in Michigan

Washington and Beijing are "in agreement on many things," U.S. President Donald Trump said after the face-to-face meeting that lasted nearly two hours, the first between both leaders in six years.

Busan

Global Tariffs

Trump announces deal with China after talks with Xi in South Korea

U.S. President Donald Trump ordered the resumption of nuclear weapons tests for the first time since 1992. A day earlier, Russian President Vladimir Putin said Russia had successfully tested a nuclear-powered super torpedo.

Washington

Trump orders nuke tests after Russia tests nuclear-powered torpedo

Sudan and the UAE clash at the UN Security Council—Khartoum accuses Abu Dhabi of funding the RSF amid reports of atrocities.

New York

UN Security Council meeting: Sudan and UAE trade heated accusations

U.S.-China tensions cast a shadow over the APEC summit in South Korea — Leaders debate trade, diplomacy, and the bloc’s mission of free trade.

Gyeongju-si

APEC summit: U.S.-China rivalry looms over trade and diplomacy

Microsoft, Meta and Alphabet recently reported their quarterly earnings and one thing is certain: the jaw-dropping investments in artificial intelligence are only just getting started. This all comes just days after Nvidia became the world's first-ever $5 trillion company.

California

Meta stock falls over 10% after commitment to raise AI spending

CBS News has confirmed that the Pentagon ordered all state National Guards to form what they're calling "quick reaction forces" available for rapid deployments to address potential civil unrest.

Pentagon orders state National Guards to form rapid response units

Taylor Taranto has been sentenced to time served plus 36 months of supervised release after being convicted of threatening former President Barack Obama. He was also pardoned on Jan. 6 Capitol rioting charges by President Trump earlier this year.

Taylor Taranto sentenced to time served for Obama threat

Authorities have charged five people in connection with the overdose deaths of three 19-year-olds, including Leandro De Niro-Rodriguez, the grandson of actor Robert De Niro.

Five arrested over overdose death of Robert De Niro’s grandson

Prince Andrew is being stripped of his royal titles and must move out of his mansion, Buckingham Palace announced on Thursday. Andrew has come under intense scrutiny over his friendship with convicted sex offender Jeffrey Epstein.

London

Prince Andrew stripped of royal titles over Jeffrey Epstein ties

French police have now detained seven people over the robbery at France's landmark museum on 19 October.

Paris

Louvre heist: Five new suspects arrested as search for jewels continues

U.S. Treasury Secretary Scott Bessent said Thursday that China has approved a TikTok transfer deal. CBS News White House reporter Willie James Inman has more.

Treasury Secretary Bessent says China approved TikTok transfer deal

As Hurricane Melissa continues its trail of death and devastation through the Caribbean, Jamaica is taking stock. With over 75% of the country without power and $22 billion in damage, experts estimate recovery could take a decade.

Kingston

Jamaica reels as Hurricane Melissa leaves behind devastation

House lawmakers have been told their paychecks will be delayed until Congress passes a new funding bill. CBS News congressional reporter Taurean Small has the latest on the government shutdown.

House lawmakers' paychecks delayed until government reopens

Israeli planes and tanks pounded areas in eastern Gaza on Thursday (October 30), Palestinian residents and witnesses said, a day after Israel said it remained committed to a U.S.-backed ceasefire despite launching more lethal bombardments in the territory.

Jerusalem

Middle East Conflict

Israel strikes Gaza after asserting commitment to ceasefire

In the Netherlands, the centrist D66 party looks on course to beat the far right in the national election. Exit polls have predicted Rob Jetten's party will claim victory, which could lead him to become the country's youngest ever prime minister.

Amsterdam

Dutch centrist party wins big in election as far right loses support

President Donald Trump ordered the U.S. military on Thursday (October 30) to immediately resume testing nuclear weapons after a gap of 33 years, minutes before beginning a meeting with Chinese President Xi Jinping.

Trump tells Pentagon to resume testing U.S. nuclear weapons

President Trump will hold a bilateral meeting with Chinese President Xi Jinping. This is their first face-to-face since Mr. Trump returned to the White House. Jessi Mitchell anchors this Special Report.

Trump, Xi Jinping meet face-to-face in South Korea over trade

The Bank of Canada made a 25-basis-point cut to its key interest rate while governor Tiff Macklem suggested rates will hold where they are as long as inflation stays in the target range of two per cent.

Ottawa

Bank of Canada cuts key interest rate to 2.25%

After leaving Jamaica with widespread power outages and flooding, Melissa caused fatal flooding in Haiti that has killed 25 people and hit Cuba with a storm surge.

Port-au-Prince

Hurricane Melissa causes floods in Haiti, killing at least 25

Fentanyl production tops the agenda as the U.S. and China discuss curbing exports tied to the deadly opioid crisis.

Fentanyl crackdown central in U.S.-China talks

APEC members face economic uncertainty amid rising US-China rivalry—South Korea prepares for potential fallout from high-stakes talks.

U.S.-China trade tensions leave South Korea navigating APEC fallout

President Putin announced that the Poseidon super torpedo was successfully tested and cannot be intercepted, marking a new stage in Russia’s naval capabilities.

Moscow

Russia says its successfully tested nuclear-capable underwater drone

The Justice Department has put D.C. prosecutors on leave after they submitted a court memo describing those who attacked the Capitol on January 6, 2021 as "rioters." The filing was in a case involving Taylor Taranto, who was part of the Capitol riot and is currently facing unrelated weapons charges.

DOJ sidelines prosecutors over Jan. 6 'rioters' court filing

Sean Grayson, the former Illinois sheriff's deputy who shot and killed Sonya Massey in her home in 2024, was found guilty of second-degree murder.

Illinois

Ex-officer found guilty of murder in Sonya Massey shooting

President Donald Trump is sending America's largest aircraft carrier to the Caribbean to help stop small boats he says are transporting drugs to the U.S. Trump says the U.S. is in "armed conflict" with Venezuelan drug cartels.

U.S. masses more naval forces off coast of Venezuela

The U.S. Federal Reserve announced Wednesday that it will lower its benchmark interest rate by 0.25 percentage points in its second straight cut.

Fed lowers interest rates by 0.25 percentage points

The police operation was one of the most violent in Brazil’s recent history, with human rights organizations calling for investigations into the deaths.

Rio de Janeiro

Raid on Rio drug trafficking gang leaves at least 64 dead

Hurricane Melissa made landfall in Cuba on Wednesday after ripping through Jamaica. CBS News' Jarred Hill has more details.

Havana

Hurricane Melissa makes landfall in Cuba after slamming Jamaica

U.S. President Donald Trump landed in South Korea on Wednesday (October 29) for the final leg of his Asia trip, optimistic about striking a trade war truce with Chinese President Xi Jinping after summit talks with South Korea's Lee Jae Myung.

Breakdown