Apple briefly reaches $5 trillion market value, second company to do so
On July 28, Apple's stock price reached a session high of $342.89, pushing its market capitalization above $5 trillion for the first time in history—making it only the second company after Nvidia to achieve this milestone. Although shares later settled at around $337.70 with a valuation of approximately $4.96 trillion, Apple had already surpassed rival Nvidia as the world's most valuable firm earlier that month. Apple’s strong performance has been driven by robust product demand and its strategic decision not to join other Big Tech firms in heavy AI spending. Instead, it leveraged Google's technology for services like Siri, avoiding costly infrastructure investments. Additionally, Apple maintained iPhone prices while raising costs on MacBooks and iPads, which analysts say boosted consumer interest. To further stimulate sales, Apple introduced a device leasing program with Klarna that allows customers to pay as little as $17.99 per month for an iPhone in the U.S. Analysts view this move as smart marketing rather than price reduction.
Topics: AI Strategy Apple Market Capitalization Nvidia