Apple briefly reaches $5 trillion market cap
Apple hits $5 trillion as shares rally on lean AI spending and growth momentum. See what’s driving the milestone, upcoming earnings, and Tim Cook’s exit.
Apple briefly became the first publicly traded company to reach a $5 trillion market value on Tuesday, a day after overtaking Nvidia as the world’s most valuable listed company.
The move came as Apple shares rose about 25% this year, helped by investor confidence in its lower spending approach to AI compared with other large tech companies that are investing heavily in data centers and related infrastructure.
The company is due to report quarterly results on Thursday, and CEO Tim Cook is expected to step down after the earnings call, with John Ternus set to take over on Sept. 1. Apple also recently announced a leasing program for U.S. customers and raised prices on some products as memory and storage costs increased.