Apple shares $AAPL surged to a new all-time high today, bringing the company closer to the position of the world's most valuable company.

Shares of $AAPL crossed the $323 mark today, with the company's market capitalization reaching approximately $4.73 trillion.

Over the past twelve months, Apple has gained over 50%. The rally is supported by a combination of strong services generating recurring high-margin revenue from an installed base of over 2 billion active devices, and free cash flow exceeding $100 billion over the last twelve months.

Analysts are also fueling optimism. Citi $C raised its price target to $365, while UBS remains more cautious with a neutral rating and a $296 target. Apple needs only about $320 billion to surpass Nvidia and become the world's most valuable company. That would also mark the first time in its history that Apple exceeds $5 trillion in market capitalization.

The valuation remains a risk, with a P/E around 32, as well as rising memory prices, which, due to demand for AI servers, are making smartphone manufacturing more expensive and could force Apple to raise iPhone prices. In recent weeks, the company has already raised prices on some of its products by more than 20%. Historically, however, the company has been able to translate higher prices into additional revenue thanks to strong customer loyalty.

Do you own Apple stock, are you just a user of their products, or do you have nothing to do with Apple at all?