Since 2003, Apple's stock has not experienced a winning streak as successful as the present one.

• On Tuesday, Apple stock experienced an 11-day winning streak, which is its longest since 2003.
• The rally coincided with a broader market increase and hope for ceasefire talks between Russia and Ukraine.
• Apple’s market cap is nearing $3 trillion.

The iPhone era's longest winning streak of 11 straight days was marked by the shares on Tuesday.

The company's stock gained 1.9%, erasing its losses for the year. Despite being 1.7% away from its record close on January 3, when Apple's market cap reached $3 trillion, the company's value was approximately $2.9 trillion as of Tuesday.

Apple's stock has not experienced a 11-day streak of gains since a 12-day streak in 2003, when the iPod was the company's fastest-growing product. The first iPhone was released in 2007.

On Tuesday, Apple's Big Tech peers also gained, with and both advancing, as investors turned more optimistic about ceasefire negotiations between Russia and Ukraine.

According to Dan Ives, an analyst at Wedbush Securities, Apple's strength and the demand for its iPhone and services are helping the stock regain momentum towards the $3 trillion market value range.

Despite the decline of high-growth tech companies this year, established names have remained relatively stable. As inflation rises at its fastest pace in 40 years and the Federal Reserve increases interest rates, investors are shifting their investments towards less risky assets.

Ives advised buying Apple shares after the Fed raised interest rates, which signaled a green light for tech stocks. Many investors were caught off guard by the rally and are now trying to catch up with Cupertino leading the way.

Despite facing weaker-than-expected demand for its new budget iPhone SE, Apple's leadership has demonstrated its ability to navigate choppy waters.

According to Bryn Talkington of Requisite Capital Management, who spoke to CNBC on Friday, Tim Cook continues to execute with his team. Talkington believes that Apple will likely continue to execute well, as it has done so far, and has held up better than most tech stocks.

Gene Munster from Loup says he remains highly optimistic about Apple.