NEW YORK: Apple’s market cap briefly crossed $5 trillion for the first time on Tuesday, July 28, making the iPhone maker only the second company after Nvidia to reach the milestone.
Apple Inc. (Nasdaq: AAPL) reached an intraday record of $342.89 per share. The price valued the company at approximately $5.036 trillion, Reuters reported.
The shares later closed 0.94% higher at $340.08. Apple ended the session with a market value of about $4.99 trillion, below the threshold it crossed during trading.
NVIDIA became the first publicly traded company to reach a $5 trillion valuation in October 2025. Apple overtook the chipmaker earlier this month to become the world’s most valuable company.
Apple shares have gained about 25% during 2026, outperforming the other “Magnificent Seven” US technology stocks.
Analysts have linked the rally to strong product demand and Apple’s limited participation in the costly race for artificial-intelligence infrastructure. The company has used Google technology for its services, including its revamped Siri, rather than building comparable data centre capacity.
Read: Apple Market Value Briefly Tops Nvidia Near $5tn Mark
Forrester Vice President and Principal Analyst Dipanjan Chatterjee said Apple had prioritised customer experience over extensive investment in AI infrastructure.
Apple also launched its Klarna-backed Apple Upgrade leasing programme in the United States on Tuesday. Monthly payments start at $17.99 for an iPhone and $11.99 for an Apple Watch or iPad.
The company is scheduled to report its fiscal third-quarter results after the US market closes on Thursday. Analysts expect quarterly revenue to increase by more than 15% from the previous year, Reuters reported.
