On July 28, Apple stock surged 3% to hit a $5 trillion market cap for the first time, overtaking Nvidia to become the world’s most valuable company. The rally was fueled by a Bloomberg report announcing upcoming smart home products including a Siri-powered hub, an updated Apple TV, and a new HomePod mini. Apple’s price-to-earnings ratio reached 41.2 on that day, between 37% and 145% above those of Nvidia, Amazon, Meta, and Alphabet. The stock has doubled from $170 in Q1 2024 to $350 today, while earnings grew only 25%, making the investment significantly more expensive than before.
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