Apple briefly became the second publicly traded company to reach a $5 trillion market capitalization on Tuesday, with shares climbing to a record intraday high of $342.89. The milestone comes less than a year after the iPhone maker surpassed $4 trillion in October 2025 and after it reclaimed the title of world's most valuable company from Nvidia.
Only Nvidia had previously reached the $5 trillion mark, peaking at roughly $5.7 trillion in mid-May. Apple's shares are now up nearly 60 percent over the past 12 months, bolstered by its decision last month to hold iPhone prices steady even as it raised prices on MacBooks and iPads, and by a new upgrade program launched with Swedish fintech firm Klarna.
The company is expected to unveil an overhauled Siri beta alongside a foldable iPhone and the iPhone 18 lineup later this fall, ahead of the planned Sept. 1 leadership transition from Tim Cook to John Ternus. Fiscal third-quarter results are due after Thursday's close.