Apple briefly touched a $5 trillion market capitalization on Tuesday, July 29, becoming only the second public company after Nvidia to reach that historic milestone, with an intraday high of $342.89 per share. The stock has risen approximately 25% year-to-date, sharply contrasting with Nvidia’s 6% gain, an advantage attributed to Apple’s budget discipline against competitors’ massive AI infrastructure spending. This rally comes two days before the third-quarter earnings report, which will be Tim Cook’s final call as CEO before handing over to John Ternus on September 1. Apple’s climb stems from strong iPhone sales rather than AI spending, and the company recently launched a $17.99 monthly leasing program with Klarna alongside MacBook and iPad price hikes last month.
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