Apple briefly reached a $5 trillion market capitalization milestone on July 28, becoming the first time the iPhone maker crossed the mark as investors pushed its shares higher and renewed confidence grew around its artificial intelligence strategy.
The company’s stock surge also helped Apple overtake Nvidia as the world’s most valuable publicly traded company. Apple shares climbed to a record high of $342.89 during Tuesday’s trading session before falling slightly. The stock closed at $340.08, leaving the company just below the $5 trillion valuation level.
The technology giant’s shares have gained about 25% this year, outperforming several other major technology companies. Apple is scheduled to report its quarterly earnings on Thursday, which will provide more insight into its business performance and future plans.
🍎 $AAPL reaches a historic milestone.#Apple has surpassed a $5 trillion market capitalization for the first time, becoming the first company ever to cross this threshold.
The milestone highlights continued investor confidence in Apple’s ecosystem, services business and… pic.twitter.com/Q4YHUwo0kX
— BBX (@bbx_official) July 28, 2026
Unlike major technology companies such as Alphabet, Amazon, Meta and Microsoft, which are investing hundreds of billions of dollars into artificial intelligence infrastructure, Apple has maintained lower capital spending. Instead, the company has relied on cloud services and AI technology partnerships, including infrastructure from Google.
Apple faced criticism last year as investors questioned whether the company was falling behind in the AI race because of slower investment and delays in upgrading its Siri assistant. However, market sentiment has recently changed as investors have raised concerns about heavy spending by AI-focused companies and whether those investments will generate expected returns.
The competition between Apple and Nvidia reflects a broader debate over the future of artificial intelligence. Nvidia became the first company to reach a $5 trillion market value in October, driven by demand for its AI chips that power many advanced computing systems. However, Nvidia’s shares have increased only about 6% this year compared with Apple’s stronger performance.
Apple’s stock gains have continued despite rising product prices linked to a global shortage of memory components. The company recently announced its Upgrade program, allowing customers in the United States to lease iPhones and other products instead of purchasing them directly.
Apple also increased prices for some MacBooks and iPads last month as higher memory and storage costs affected production expenses. Chief Executive Tim Cook previously said price increases had become difficult to avoid.
Apple’s latest milestone highlights its continued market strength while the company prepares for major changes in artificial intelligence, products and leadership.
