Apple became the second company worldwide, after Nvidia, to surpass the $5 trillion market-capitalization threshold, as its shares reached an intraday high of $342.89. Its valuation briefly rose to $5.04 trillion before easing slightly back toward the $5 trillion mark.
Apple’s rise comes amid a broader correction in AI and semiconductor stocks. Investors are becoming increasingly cautious about the high levels of spending, rising debt and pressure on the cash flows of companies investing heavily in data centers, computing capacity and advanced chips.
In this environment, Apple has benefited from its more restrained approach to the artificial-intelligence investment race. Unlike other technology groups, it has not committed similarly large sums to infrastructure, leaving it less exposed to concerns about excessive spending and limited returns.
During the month, Apple became the world’s most valuable company by market capitalization, overtaking Nvidia, which had held the top position since June 2025.
At the same time, strong demand for its products, particularly the iPhone, has supported its share price. Apple’s decision to keep iPhone prices unchanged, despite price increases in other product categories, is also believed to have further boosted sales.
Apple had already become the world’s most valuable publicly listed company earlier in the month, surpassing Nvidia, which had held the top spot since June 2025 and was the first company to exceed the $5 trillion threshold in October 2025.
Source: Guardian