Apple Becomes Second Company to Surpass $5 Trillion Market Cap in Intraday Trading

Apple Inc. (AAPL) briefly surpassed a $5 trillion market capitalization on Tuesday, becoming only the second company in history to reach the landmark valuation. The milestone was achieved during intraday trading before the stock pared some of its early gains.

Intraday High

Shares of the iPhone maker climbed as much as 1.8% to a high of $342.89 shortly after markets opened, according to a report from Investing.com. This surge pushed the company's total market value over the $5 trillion threshold for the first time.

To officially end the trading day above the milestone, Apple's stock needs to close above the $340.43 mark. By 10 AM Tuesday, the shares had retreated from their peak and were trading approximately 0.5% higher for the session.

Ad

Market Context

Apple joins an exclusive club, with Nvidia Corp. (NVDA) being the only other company to have ever achieved a $5 trillion valuation. The achievement solidifies the dominance of mega-cap technology firms in global markets and makes Apple the largest company in the S&P 500 Index.

Nvidia previously reached a record market cap of $5.7 trillion on May 14, according to the report, though its valuation has since declined by approximately $1 trillion. The shifting valuations highlight the ongoing competition for market leadership among the world's largest technology companies.