Apple is getting close to becoming the second company after Nvidia to hit a $5 trillion market cap, driven by strong investor enthusiasm around its newest iPhone lineup and AI strategy.
Apple shares reached an all-time intraday high of $345.34 on Tuesday before closing at $339.75, which put the company's market value at roughly $4.96 trillion. At one point during the session, the stock briefly pushed Apple above the $5 trillion mark, based on Dow Jones Market Data.
The stock has climbed about 7% since Apple introduced its iPhone 18 Pro models and its first foldable iPhone, the iPhone Duo. The new devices have reinforced expectations that a major product cycle could support growth, while investors are also paying attention to Apple's relatively disciplined approach to AI spending compared with the massive capital investments some tech peers are making.
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