(KYIV, UKRAINE) – Apple Inc has become the second company in history to reach a market capitalisation of USD 5 trillion. The shares of the iPhone maker rose 1.8 percent to USD 342.89 on Tuesday, pushing the company’s value above the threshold for the first time. The stock has since dipped back below that level.
The milestone puts Apple alongside Nvidia Corp, which reached a record market capitalisation of USD 5.7 trillion on 14 May. Nvidia has since lost approximately USD 1 trillion from that peak. Apple currently holds the position of the largest company in the S&P 500 index.
If Apple’s shares close above USD 340.43 at the end of trading, the company will cross the USD 5 trillion mark on a sustained closing basis. The stock movement reflects ongoing investor confidence in the technology sector and Apple’s product portfolio.
The achievement follows a period of growth for US technology stocks, although the sector has shown volatility. Nvidia’s decline from its May peak illustrates the shifting valuations within the industry. Apple’s rise to USD 5 trillion market capitalisation represents a significant benchmark for the company and the broader market.
In other market developments, SpaceX lost more than USD 1 trillion in value after the cancellation of its Starship rocket launch, according to earlier reports. The contrasting fortunes of these major US companies highlight the diverse pressures facing different parts of the technology and aerospace sectors.