Could Apple's First Touchscreen MacBook Pro, First Foldable iPhone Duo Phone, and HomeView Pole Vault Apple Beyond Nvidia to Become the First Company in the $10 Trillion Club?

Apple has recently unveiled three new products that could propel the company beyond Nvidia and into the $10 trillion market value club. These include its first foldable iPhone, the iPhone Duo; HomeView, a smart home display; and Apple's first touchscreen MacBook Pro. Following Nvidia's record $5 trillion market cap, Apple briefly surpassed Nvidia to become the world's most valuable company, only to be overtaken again shortly thereafter.

The surge in Apple's value has been driven by consumer tech devices rather than AI infrastructure. From a market valuation perspective, Apple was the first to reach the $1 trillion mark in 2018 and has continued to climb. In 2022, the company generated $416 billion in revenue, with the iPhone alone contributing nearly half of that.

Services accounted for $109 billion, showcasing the recurring revenue generated by these devices. Momentum has continued this year, with Apple's revenue in the fiscal third quarter up 16% and earnings per share surpassing analysts' estimates. However, to reach the $10 trillion mark, Apple's value would need to grow nearly 100% from its current level of about $5.1 trillion.

While Apple's new products are exciting, they represent a small fraction of the company's overall portfolio, and it may take time for each product to contribute meaningfully to revenue. Additionally, Apple's valuation is not particularly cheap in relation to expected earnings. Therefore, while Apple is a high-quality business with a powerful ecosystem and the potential for innovation, reaching the $10 trillion mark seems more like a long-term possibility than a near-term bet.