Apple Inc (AAPL) has delivered its latest punch in the AI battle against Nvidia (NVDA), launching its new Apple Intelligence. On Monday, the company introduced a new 24-inch iMac desktop with an AI-focused M4 processor. Apple is set to make history as the first company to hit a $4 trillion market cap by 2025, however, Nvidia is right on its heels.
Apple said it has been trying to deliver its AI tools to the EU complying with the EU’s Digital Markets Act. “Since announcing Apple Intelligence, we have been working to find a path to deliver as many features as we can in the EU in a way that complies with the DMA while maintaining user privacy and security, and to determine what additional product engineering would be required to do so,” Apple said in a statement Monday.
AAPL shares have been hovering around a record high. Shares have gained 13.7% past month. Apple is expected to report its quarterly results on Oct. 31 after the market’s close, and a positive report could bring further gains. Currently, AAPL has several competitors on the tech scene, including Mag-7 rival Microsoft (MSFT). However, the biggest up-and-coming tech giant that the Cupertino-based phone developer faces currently is Nvidia.
Nvidia Remains On The Heels Of Apple On Quest For $4 Market Cap
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Again on Friday, Nvidia briefly surpassed Apple to become the biggest company in the world. The achievement was thanks to the high demand for its artificial intelligence chips. NVDA’s market capitalization reached $3.53 trillion, slightly above Apple’s $3.52 trillion.
However, there are several notes for Apple that investors should consider, which could impact the stock’s price. The company has lagged behind the rest of the “Mag 7” stocks so far in innovating, deploying, and promoting AI. The rollout of Apple Intelligence is slow, as most features for the new software won’t launch until December. While the hype around the new AAPL software is growing, the company remains on track for the illustrious $4T valuation.
In 2018, Apple became the first company to reach a $1 trillion market cap. Its dominance in the tech and manufacturing industry would be unquestioned, as it became the first company to exceed a $3 trillion market cap in 2023. Now, beating NVDA to that valuation would ultimately prove the knockout blow in the battle of which tech company is superior in the world.
