Can you elaborate? I have a M4 Max with 128 GB RAM that I bought in 2024 with AppleCare+ (€500) for €7k. I estimate I would get €4k to €5k if I sold it second hand today. So it hasn't appreciated in value in any meaningful sense but it has very slowly depreciated in value. Normally a 2 year old laptop would strictly lose at least 50% of it's value.