Apple Reaches $5 Trillion Market Cap, Second Ever
TL;DR Summary
Apple briefly surpassed a $5 trillion market cap, becoming only the second publicly traded company to reach the milestone, with its stock up about 24% this year and 60% over 12 months on strong iPhone sales, even as investors note Apple’s AI exposure lags behind peers. The company has partnered with Google to power Siri via Gemini AI and plans a major Siri overhaul alongside a foldable iPhone and the iPhone 18 this fall as Tim Cook prepares to hand the reins to John Ternus on Sept. 1. AI-related memory and storage shortages are pressuring Mac and iPad prices, with potential iPhone price increases later this year.
- Apple tops $5 trillion market cap, only second company to hit the milestone Yahoo Finance
- Apple Regains Spot Over Nvidia as Most Valuable Public Company The New York Times
- CNBC Daily Open: Apple reclaims its crown, SpaceX returns to Earth CNBC
- Apple dethrones Nvidia as the world's most valuable company Business Insider
- Apple Becomes Second Company to Hit $5 Trillion in Market Value Bloomberg.com
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