Apple hits $4tn market value as new iPhone models revitalize sales

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Apple topped $4tn (£3tn) in market value for the first time on Tuesday, joining Microsoft and Nvidia as the third company in history to hit the milestone, thanks to strong demand for its latest iPhones,Apple’s share price has increased by more than 50% since a low point in April, thanks to the debut of its latest products,“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, the chief investment officer for Northlight Asset Management, before the milestone was reached,Apple’s shares had struggled earlier this year on concerns over tough competition in China and how it would cope with high US tariffs on Asian economies such as China and India, its main manufacturing hubs,However, the latest smartphones, the iPhone 17 lineup, have won back customers from Beijing to Moscow, while the company has swallowed tariff costs instead of passing them on to consumers.

Analysts said the iPhone Air’s slim design could help fend off rivals such as Samsung Electronics, while early sales of the iPhone 17 outperformed its predecessor by 14% in the US and China, data from the research company Counterpoint showed.Apple is the third company to hit the $4tn mark after Nvidia and Microsoft.Nvidia was the first, in July, as the chip designer rode the wave of AI spending.It currently leads with a market value of more than $4.5tn.

Microsoft hit the $4tn mark a few weeks later in July.After a subsequent dip in its share price, it reclaimed its membership in the $4tn club on Tuesday after it announced a deal with OpenAI to allow the ChatGPT maker to restructure itself into a for-profit corporation.With OpenAI’s valuation pegged at $500bn, Microsoft’s 27% stake in it is valued at more than $100bn.Sign up to TechScapeA weekly dive in to how technology is shaping our livesafter newsletter promotionWhile Microsoft has aggressively pursued growth in AI, Apple’s cautious approach had fuelled concerns it could lose out on what could be the industry’s biggest growth catalyst in decades.Recent reports also indicate that the company is losing a number of its senior artificial intelligence executives to Meta.

However, Apple reported its strongest quarterly results in years during the April-June period, with double-digit growth across key segments, and its forecasts were better than analysts’ expectations.The company is expected to announce its fourth-quarter results on Thursday when analysts anticipate its highly profitable services division – which includes iCloud and Apple Pay – will surpass $100bn in revenue.The continued strength in the technology sector, along with hopes of another cut in US interest rates, helped lift Wall Street to new highs.The Dow and the Nasdaq Composite rose about 0.5% in early afternoon trading, while the S&P 500 added 0.

1%.Meanwhile in the UK, the FTSE 100 closed at a record 9,696.74, up 0.44%, helped by a rise in HSBC shares after its latest figures.While Wall Street has celebrated the arrival of yet another $4tn company, many investors have also taken it as a sign that the stock market is in a bubble.

Chris Beauchamp, the chief market analyst at the trading platform IG, said: “This continues to be one of the most disliked rallies in history.Each new high in indices and every milestone achieved by individual stocks is presented as evidence of a bubble in equities.“It is understandable to see signs of nervousness around tech earnings this week, but the market continues to demonstrate remarkable resilience.”
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South Africa claim historic World Cup final spot as Wolvaardt blows England away

South Africa made history in ­Guwahati on Wednesday, after a ­phenomenal innings from their captain, Laura Wolvaardt, and ­remarkable figures of five for 20 from Marizanne Kapp helped them to a 125-run win against England and into their first 50-over World Cup final.Wolvaardt took 115 balls to bring up a maiden World Cup hundred, which was reason enough to celebrate. But with wickets tumbling at the other end, and England looking like they might have an easy-enough chase on their hands, she unleashed a superb display of boundary-striking, adding 69 runs in 28 balls.Wolvaardt slammed four sixes down the ground and slog-swept Linsey Smith for 20 runs off the 47th over. Even when she holed out to Lauren Bell in the 48th, Chloe Tryon and Nadine de Klerk took over, ­hitting 16 off Smith in the 49th over as ­England’s best death bowler was made to resemble an amateur

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Australia will target Freeman at centre in England clash, George Gregan warns

The former Australia captain George Gregan says they will target Tommy Freeman’s defending at outside-centre for England on Saturday.Steve Borthwick’s side kick off their autumn campaign at Twickenham against opponents who consigned them to a dramatic late defeat last year, and the head coach has made some notable selectorial calls.George Ford starts at No 10 instead of Fin Smith, Ford’s Sale Sharks colleague Tom Roebuck is on the wing and, most interestingly, Freeman will play at No 13.The in-form Northampton back will line up in midfield for England for the second time, switching from a more familiar role out wide. He scored four tries in the Saints’ win against Saracens last Friday wearing the No 14 jersey, and outside-centre requires a different set of skills, particularly without the ball

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Shohei Ohtani had an off night at the World Series but he still breaks baseball logic

The Dodgers star pitched in Game 3 just 18 hours after setting records with the bat. It’s a reminder of how he makes the miraculous seem mundaneEven Shohei Ohtani’s teammates struggle to find the right adjectives to describe him; ones that express how good he is while emphasizing how unlikely his existence is in the first place.After Monday’s Game 3, when Ohtani became the first player in postseason history to reach base nine times in a World Series game, Dodgers first baseman Freddie Freeman opted for “unicorn,” one of the more common Ohtani descriptors. Starting pitcher Blake Snell, meanwhile, put things simple and plain.“He’s going to do spectacular things all the time,” Snell said

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Wallabies resume England rivalry with memories still fresh of Twickenham triumph | Angus Fontaine

Smell that? That delicious whiff, sometimes bitter, but all the sweeter for its bluster? ‘Tis the distinctive funk of Australia-England sporting acrimony back on the breeze. The Kangaroos and England battling over rugby league Tests. The Lionesses and the Matildas resuming their World Cup feud. Stuart Broad and the Barmy Army playing at villainy before the Ashes next month. And the green grass of Twickenham twitching at the Wallabies’ return this weekend

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NFL’s No 1 draft pick Cam Ward victim of identity theft in $250,000 scheme

Two people armed with a number of false identities managed to fraudulently obtain a quarter of a million dollars’ worth of loans in the name of Cam Ward, the quarterback of the National Football League’s Tennessee Titans, according to authorities.Albert Weber, 42, and Cyntrelle Lash, 39, are facing charges of identity theft, bank fraud and forgery after their arrests in a case whose victims allegedly include the first overall pick in the 2025 NFL draft, his father and the business that loaned out the money in question, said Capt Jason Rivarde of the sheriff’s office in Jefferson parish, Louisiana, outside New Orleans.While attempts to contact Lash for comment were unsuccessful, Weber vehemently denied wrongdoing, suggesting the actions attributed to him were carried out by someone else who falsely assumed his identity.The case in any event highlights how increasingly common fraud involving professional athletes has become amid rises in their endorsement and salary income, as highlighted by a 2021 report from global accounting and consulting firm EY.As Rivarde put it, beginning in March, Weber and Lash worked together to secure multiple loans cumulatively worth at least $250,000 in the name of Ward, whose four-year rookie contract with the Titans is reportedly worth about $48

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The Spin | Sophie Devine’s impact on women’s cricket should be measured in more than statistics

The New Zealand legend played with joy and fun, but was also a true fighter who spanned eras in the women’s gameAs the Women’s World Cup has progressed, sanding down the edges and turning up the four semi-finalists you might have predicted from the start, a sideshow has been quietly playing stage left. A down-to-earth sideshow – just like the woman herself – the Sophie Devine farewell.Devine made her New Zealand debut in October 2006, in an ODI and T20 series against Australia. Nineteen years later, still with the same open face and broad smile, she has played her final one-day international – a losing affair against England neither side will polish up for the mantelpiece. The most memorable moment came at the end with the affectionate guard of honour given to Devine by both sides and the Māori tribute led by Melie Kerr and sung by her teary teammates as the stadium emptied