Apple Becomes Second Company to Reach $5 Trillion Market Cap
On July 28, 2026, Apple (AAPL) briefly became the second publicly traded company in history to reach a market capitalization of $5 trillion. The milestone followed less than one year after it surpassed $4 trillion in October 2025. Strong iPhone sales have driven roughly 24% growth for Apple stock this year and nearly 60% over the past twelve months. Apple has faced criticism from investors who were concerned about its lag behind competitors in artificial intelligence (AI). The company delayed key parts of its AI platform, including an upgraded version of Siri. It eventually partnered with Google (GOOG) to use Gemini models for its voice assistant and is expected to launch the updated Siri alongside new products later this year. While Apple has not experienced explosive growth like some Big Tech peers in the wake of ChatGPT's release, it was insulated from steep sell-offs affecting AI-focused rivals. However, global memory shortages have led Apple to raise prices on Macs and iPads.
Topics: AI Strategy Apple Market Cap Stock Performance