Apple briefly becomes world’s second company ever to notch $5 trillion market value in corporate history to achieve the milestone.
The company shares climbed up to 1.8% to reach an intraday record of $342.89 during the session, pushing its total valuation past the historic threshold before trimming some of those gains.
The market rally pushed back the iPhone maker ahead of Nvidia to recapture its position as the world’s most valuable publicly traded corporation.
Wall Street has heavily favored Apple’s capital-efficient approach to artificial intelligence, renting infrastructure and keeping capital expenditures controlled—compared to peers facing massive data-center spending pressures.
Unlike several Big Tech rivals weighed down by massive data-center and infrastructure spending for in-house AI, Apple’s capital-efficient approach such as partnering with Google to power features like its revamped Siri has shielded it from heavy cash-flow strains while keeping investors confident.
Coinciding with the milestone, Apple rolled out a new U.S. device-leasing program in partnership with Klarna (with iPhones starting at $17.99/month) to further stimulate hardware upgrades.
