NEW YORK, July 16, 2026, 14:06 EDT – Apple gained $254 billion in market value after getting approval for its AI products in China.
- Apple gained 1.4% to $332.13 in Thursday afternoon trading.
- Its market value rose about $254 billion in two sessions.
- China registered Apple Intelligence but gave no launch date.
Apple’s two-session rally increased its market value by about $254 billion by Thursday afternoon. The stock gained 1.4% after Wednesday’s 4% record close.
Since Tuesday’s close, Apple has risen 5.5%. The value gain is nearly four times fiscal-2025 Greater China sales.
That ratio is the investor signal. It suggests markets expect a multiyear ecosystem boost, not just one strong quarter.
China’s cyberspace regulator registered Apple Intelligence for domestic iPhones on Wednesday. Registration is required before release. No launch date was given.
Alibaba Group Holding (NYSE: BABA) said Qwen will connect with Apple Intelligence. Baidu (NASDAQ: BIDU) confirmed it is working on local features.
The shipment background improved before any AI rollout. Apple’s China volumes rose 24.4% in the June quarter, IDC said. The wider market fell 4.3%.
“Huawei and Apple kept their prices steady while competitors raised theirs,” IDC analyst Arthur Guo said. Apple had 18.1% of shipments, behind Huawei’s 22.6%. Reuters
That distinction matters. The rebound was driven by prices, not AI. China approval first protects Apple’s competitive position. Growth must still follow.
The stock now has the highest trailing multiple among these peers.
| Security | Price | Thursday move | Trailing P/E | Market cap |
|---|---|---|---|---|
| Apple (NASDAQ: AAPL) | $332.13 | up 1.4% | 40.2x | $4.89tn |
| Microsoft (NASDAQ: MSFT) | $402.76 | up 1.8% | 24.0x | $3.00tn |
| Alphabet (NASDAQ: GOOGL) | $371.66 | up 0.2% | 28.3x | $4.50tn |
| Invesco QQQ Trust (NASDAQ: QQQ) | $706.89 | down 1.5% | — | — |
Prices at 13:50 EDT. Figures are rounded.
Apple’s multiple stands 42% above Alphabet’s and 68% above Microsoft’s. QQQ’s 1.5% decline shows the divergence.
Morgan Stanley (NYSE: MS) analyst Erik Woodring said approval is a catalyst that “should level the AI playing field in China.” The bank kept its Overweight rating and $360 target. TipRanks
A more cautious view surfaced Tuesday. KeyBanc analyst Brandon Nispel cut Apple to Underweight, keeping a $250 target. He cited slower iPhone sales and slower upgrades.
Apple’s July 30 results are the next test. Investors will look for China revenue, rollout timing and margin details.
Risks remain concentrated. China’s approval does not include a launch date. Recent shipment growth relied partly on steady pricing. A weak rollout or margin miss could compress Apple’s premium.
