Apple shares climbed to a new high on Monday, as the iPhone maker is racing towards becoming the first company to reach a $4 trillion market valuation, ahead of its tech rivals Nvidia and Microsoft.
Apple stock reached its all-time high of $255.65 a share shortly after opening bell on Monday before ending the day at $255.27.
In a client note before trading opened on Monday, Wedbush analyst Dan Ives told clients in a note that he believes Apple will cross the $4 trillion threshold in early 2025. Mr Ives said Nvidia and Microsoft would join soon after, noting that Wedbush anticipates tech stocks to be up another 25 per cent in 2025 under their base case.
Apple's market cap was $3.858 trillion after trading closed on Monday. Nvidia and Microsoft held market caps of $3.420 trillion and $3.236 trillion.
The California-based company has faced criticism in the past for not being as fast as its competitors in shifting towards artificial intelligence. Its stock has doubled in the past two years, compared to Nvidia, whose stock has increased more than 800 per cent.
Apple began making its new AI features, known as Apple Intelligence, for iPhone 15 Pro and iPhone 16 users in October. Apple chief executive Tim Cook told analysts during a call in October that the new feature was the start of a new chapter for the company.
“This is just the beginning of what we believe generative AI can do and I couldn't be more excited for what's to come,” Mr Cook said.
Apple began incorporating OpenAI's ChatGPT into its devices this month. The company also released four iPhone16 models that are equipped with the chips necessary to use AI features.
Wedbush analysts expect the strong demand from Apple's AI-powered iPhone could lead to more than 240 million sales in the fiscal year 2025. It would be the company's highest unit sales ever.
Apple drew $94.9 billion in revenue for the fourth quarter the last fiscal year, of which $46.22 billion came from the iPhone. Sales in the devices were up 6 per cent from the previous year.
if you go
The flights
Emirates flies to Delhi with fares starting from around Dh760 return, while Etihad fares cost about Dh783 return. From Delhi, there are connecting flights to Lucknow.
Where to stay
It is advisable to stay in Lucknow and make a day trip to Kannauj. A stay at the Lebua Lucknow hotel, a traditional Lucknowi mansion, is recommended. Prices start from Dh300 per night (excluding taxes).
RESULTS
Bantamweight title:
Vinicius de Oliveira (BRA) bt Xavier Alaoui (MAR)
(KO round 2)
Catchweight 68kg:
Sean Soriano (USA) bt Noad Lahat (ISR)
(TKO round 1)
Middleweight:
Denis Tiuliulin (RUS) bt Juscelino Ferreira (BRA)
(TKO round 1)
Lightweight:
Anas Siraj Mounir (MAR) bt Joachim Tollefsen (DEN)
(Unanimous decision)
Catchweight 68kg:
Austin Arnett (USA) bt Daniel Vega (MEX)
(TKO round 3)
Lightweight:
Carrington Banks (USA) bt Marcio Andrade (BRA)
(Unanimous decision)
Catchweight 58kg:
Corinne Laframboise (CAN) bt Malin Hermansson (SWE)
(Submission round 2)
Bantamweight:
Jalal Al Daaja (CAN) bt Juares Dea (CMR)
(Split decision)
Middleweight:
Mohamad Osseili (LEB) bt Ivan Slynko (UKR)
(TKO round 1)
Featherweight:
Tarun Grigoryan (ARM) bt Islam Makhamadjanov (UZB)
(Unanimous decision)
Catchweight 54kg:
Mariagiovanna Vai (ITA) bt Daniella Shutov (ISR)
(Submission round 1)
Middleweight:
Joan Arastey (ESP) bt Omran Chaaban (LEB)
(Unanimous decision)
Welterweight:
Bruno Carvalho (POR) bt Souhil Tahiri (ALG)
(TKO)
Dhadak 2
Director: Shazia Iqbal
Starring: Siddhant Chaturvedi, Triptii Dimri
Rating: 1/5
Conflict, drought, famine
Estimates of the number of deaths caused by the famine range from 400,000 to 1 million, according to a document prepared for the UK House of Lords in 2024.
It has been claimed that the policies of the Ethiopian government, which took control after deposing Emperor Haile Selassie in a military-led revolution in 1974, contributed to the scale of the famine.
Dr Miriam Bradley, senior lecturer in humanitarian studies at the University of Manchester, has argued that, by the early 1980s, “several government policies combined to cause, rather than prevent, a famine which lasted from 1983 to 1985. Mengistu’s government imposed Stalinist-model agricultural policies involving forced collectivisation and villagisation [relocation of communities into planned villages].
The West became aware of the catastrophe through a series of BBC News reports by journalist Michael Buerk in October 1984 describing a “biblical famine” and containing graphic images of thousands of people, including children, facing starvation.
Band Aid
Bob Geldof, singer with the Irish rock group The Boomtown Rats, formed Band Aid in response to the horrific images shown in the news broadcasts.
With Midge Ure of the band Ultravox, he wrote the hit charity single Do They Know it’s Christmas in December 1984, featuring a string of high-profile musicians.
Following the single’s success, the idea to stage a rock concert evolved.
Live Aid was a series of simultaneous concerts that took place at Wembley Stadium in London, John F Kennedy Stadium in Philadelphia, the US, and at various other venues across the world.
The combined event was broadcast to an estimated worldwide audience of 1.5 billion.
