Apple has reached a historic milestone, becoming the third Big Tech company to cross $4 trillion in market value, driven by strong demand for its latest iPhone lineup.The company’s shares were last up 0.2 per cent at $269.2 in early trading on Tuesday, marking a record high, reported news agency Reuters.Apple’s stock has surged nearly 13 per cent since the launch of the iPhone 17 series and iPhone Air on September 9, reversing earlier losses and pushing the stock into positive territory for the first time this year. Analysts said the robust demand for the new devices, especially in key markets such as the US and China, helped offset concerns about the company’s slower progress in artificial intelligence.“The iPhone accounts for over half of Apple’s profit and revenue, and the more phones they can get into the hands of people, the more they can drive people into their ecosystem,” said Chris Zaccarelli, chief investment officer at Northlight Asset Management, ahead of the milestone, as quoted by Reuters.According to data from Counterpoint Research, sales of the iPhone 17 outperformed its predecessor by 14 per cent in the US and China. The ultra-slim iPhone Air is also expected to help Apple fend off competition from Samsung Electronics.Brokerage Evercore ISI expects the strong iPhone demand to help Apple beat market expectations for the September quarter and issue a positive forecast for the December quarter. The company is set to announce its fourth-quarter earnings on October 30, according to CNBC.Apple’s cautious approach to AI continues to raise investor concerns, especially amid reports that some of its senior AI executives have moved to Meta. The company’s Apple Intelligence suite, including ChatGPT integration, has been rolled out slowly, while an AI upgrade to Siri has been delayed until next year.Zaccarelli added, “The lack of a well-understood artificial intelligence strategy is clearly one of the things that is an overhang for the stock. If they could figure out how to incorporate artificial intelligence in a way that would excite consumers and the market, you’d see a whole different company.”Apple joins Nvidia and Microsoft in the $4 trillion club. Nvidia remains the world’s most valuable company with a market cap of over $4.5 trillion, while Microsoft recently reclaimed its spot after shares rose 2.2 per cent following a new deal with OpenAI to restructure it into a public benefit corporation.

New Delhi: Electric passenger vehicle volumes are back in action after the initial knee-jerk reaction to the reduction in GST on internal combustion engine (ICE) vehicles, according to a report by YES Securities. The report noted that festive demand for electric passenger vehicles has remained healthy, with average retail growth of around 15-20 per cent year-on-year.

It stated “E PV volumes back in action post initial knee jerk reaction to reduced GST on ICE”. Original equipment manufacturers (OEMs) are offering higher schemes on stocks aged over 90 days to boost sales.

Additionally, a loyalty discount of Rs 50,000 is being provided to existing brand customers to further support volumes. Inventory levels for EVs are said to be under control as dealers have refrained from picking up incremental volumes, keeping their focus largely on ICE vehicles amid changing market dynamics.

Another notable trend emerging from the market is the increase in the share of first-time car buyers, which has inched up by 4-5 per cent across regions, a positive sign for the overall passenger vehicle market.

Market interactions indicate that demand trends are shifting back to pre-GST 2.0 levels, with higher preference towards compact and mid-sized SUVs within the passenger vehicle segment.

While the demand for premium hatchbacks and SUVs continues to remain robust, small cars have seen an uptick in bookings by 30-40 per cent, primarily driven by rural demand and higher discounts.

However, within urban markets, small cars continue to face weak natural demand due to their limited aspirational appeal.

The weakness in this segment over the years has been attributed to changing customer preferences, where buyers increasingly seek fresh designs and premium features, and affordability is no longer a major constraint.

Analysts note that the recent increase in small car inquiries is largely a result of sharp price cuts and discounts following the GST reduction, coupled with a rise in 2-wheeler upgrades and vehicle exchanges. The ongoing marriage season is also expected to contribute to additional volumes in this category.

However, the sustainability of this recovery beyond January 2026 remains uncertain.

The current momentum in the small car segment is heavily dependent on the continuation of existing discounts and promotional offers, which are expected to be gradually withdrawn after the festive period.

Industry experts suggest that any sustained recovery in small car demand would hinge on further price cuts or new model launches in the coming months.