Apple has reclaimed the title of the world's most valuable public company from Nvidia.
Apple's stock closed at a record high on Monday, pushing its market capitalization to roughly $4.94 trillion, according to Yahoo Finance data. Nvidia's market cap stood at $4.75 trillion.
22% %
Apple shares have climbed more than 22% year to date.
Investors increasingly view Apple's restrained AI spending as a strength rather than a weakness. Jay Woods, chief market strategist at Freedom Capital Markets, said: "They have successfully avoided some of those capex pitfalls."
Apple's capital expenditure has declined over the past three quarters, according to Yahoo Finance's AlphaSpace data. In contrast, Alphabet raised its capital spending outlook to support its AI infrastructure build-out, while Tesla increased spending to fund its robotaxi and robotics ambitions.
Shares of Alphabet and Tesla fell following their earnings reports. Alphabet stock is up about 4% year-to-date, while Tesla stock has tumbled roughly 30% year-to-date.
Investors are now awaiting earnings from Microsoft, Amazon, and Meta, all of which are expected to announce further increases in AI-related spending. Apple will report earnings on Thursday after the closing bell.
Thursday's report will be closely watched for signs that Apple can scale its 'Apple Intelligence' features without a bump in capital expenditures or an impact on operating margins. It will also mark the final earnings call for Tim Cook as CEO before he steps down on Sept. 1 to become executive chairman, officially passing the reins to John Ternus, a hardware engineering veteran at Apple.
Updates
Apple has officially become the second company in history to reach a $5 trillion market valuation, following a 1.17% rise in its shares on Monday. Meanwhile, Nvidia's market capitalization dropped to $4.83 trillion after its shares declined by approximately 5% during the same trading session. Additionally, Apple is expected to debut an overhauled Siri as a beta alongside its first foldable iPhone and the iPhone 18 lineup later this fall.
Apple Inc. has become the second company in history to reach a $5 trillion market valuation. Following a 1.17% rise in its shares on Monday, the company surpassed Nvidia, whose market capitalization fell to $4.83 trillion after a 5% decline in its stock price.
Apple Inc. has become the second company in history to reach a $5 trillion market valuation, surpassing Nvidia, whose market capitalization fell to $4.83 trillion on Monday. While Apple shares rose 1.17% during the session, Nvidia shares declined by approximately 5%.
Apple has neared the historic $5 trillion market valuation, reaching as high as $342.89 per share on July 28, though it ultimately closed slightly below the threshold required to maintain the milestone. Meanwhile, Nvidia's market capitalization has faced downward pressure, falling to $4.78 trillion as of July 28, amid broader market volatility and concerns over global chip-making competition. Apple continues to leverage its restrained capital expenditure to support significant share buybacks and dividend growth, even as it prepares for the upcoming release of an overhauled Siri and its first foldable iPhone.
Apple reached a $5 trillion market capitalization in late July 2026, marking a significant milestone less than a year after surpassing the $4 trillion mark in October 2025. Although Apple briefly topped the $5 trillion threshold during intraday trading, it ultimately closed slightly below this level on July 28. Market sentiment remains focused on the upcoming July 30 earnings report, while investors have shown increasing caution regarding the broader tech sector due to concerns over circular AI industry funding and competitive threats from Chinese chip-making advancements.
Apple reached a $5 trillion market valuation on Tuesday, achieving this milestone less than 12 months after topping $4 trillion in October 2025. Although Apple shares hit an intraday high of $342.89, allowing the company to briefly cross the $5 trillion threshold, the stock closed at $340.08 on July 28, falling slightly short of the $340.43 price required to maintain the $5 trillion market capitalization at the close. Meanwhile, Nvidia's market capitalization fell to $4.78 trillion on the same day as investors grow increasingly concerned about 'circular funding' within the AI industry and the potential competitive threat posed by China's progress in homegrown chip-making equipment.
Apple reached a $5 trillion market valuation on Tuesday, achieving this milestone less than 12 months after topping $4 trillion in October 2025. Despite reaching an intraday high that would have sustained the $5 trillion threshold, Apple shares closed at $340.08 on July 28, falling just short of the $340.43 price point required to officially maintain that record capitalization at the market close.
Apple reached a $5 trillion market capitalization for the first time on Tuesday, less than a year after crossing the $4 trillion threshold in October 2025. Although shares reached a high of $342.89 during the session, the company closed slightly below the $340.43 per-share price required to maintain a $5 trillion valuation. Investors remain cautious as broader concerns grow regarding 'circular funding' within the AI industry, evidenced by a recent decline in major U.S. chip stocks.
Apple reached a $5 trillion market capitalization for the first time on Tuesday, less than a year after crossing the $4 trillion threshold in October 2025. Although the company briefly hit the $5 trillion mark during the trading session, it closed slightly below that level at approximately $4.99 trillion. Market analysts note that Apple's restrained AI strategy, which contrasts with the heavy capital expenditure of its peers, has helped preserve cash flow and support consistent share buybacks.
Apple reached a $5 trillion market capitalization in July 2026, less than a year after crossing the $4 trillion threshold in October 2025. Although shares briefly touched highs allowing for a $5 trillion valuation, the company missed the closing mark by a few cents on July 28 with a market cap of approximately $4.98 trillion. Investors are currently monitoring heightened volatility in the semiconductor sector and concerns regarding 'circular funding' in the AI industry, while market participants look toward Apple's fiscal third-quarter results scheduled for July 30.
Apple reached a $5 trillion market capitalization for the first time on Tuesday, less than a year after crossing the $4 trillion threshold in October 2025. Although the company hit an intraday high of $342.89, it closed slightly below the $340.43 price point required to maintain the $5 trillion valuation at the end of the day. Meanwhile, investors have expressed growing concerns over the 'circular funding' model within the AI industry, contributing to a broader downturn that saw various major US chip stocks fall by more than 4%.
Apple became the second company in history to achieve a $5 trillion market valuation, reaching this milestone less than a year after surpassing $4 trillion in October 2025. While the company's market cap hit the $5 trillion mark, it narrowly missed maintaining it at the close of July 28, finishing a few cents below the required $340.43 share price.
Apple reached a $5 trillion market capitalization for the first time, making it only the second company in history to achieve this milestone. This surge follows the company surpassing $4 trillion in October 2025, though Apple narrowly missed maintaining the $5 trillion mark at Tuesday's close by a few cents.
Apple narrowly missed the $5 trillion market capitalization milestone, closing at $339.33 or $340.08 on July 28, just a few cents below the $340.43 required to maintain that valuation. Despite missing the mark, the company remains a top contender for the most valuable position, with Polymarket odds of Apple finishing July as the leader surging to 79% from 50%.
