Apple closed today with a market capitalization above $5 trillion, becoming the second company to do so after Nvidia. According to The Wall Street Journal, Apple's market cap had exceeded $5 trillion six times before during intraday trading, but this is the first time the company held above that mark at the close.
Apple closed at $342.96, for a market cap of $5.005 trillion. The new valuation comes just over a month after John Ternus took over for Tim Cook as Apple CEO, and two days ahead of iPhone Duo pre-orders.
Apple briefly surpassed Nvidia to become the most valuable company in the world in July, but Nvidia has since retaken the top spot with a market cap of $5.33 trillion.
Separately, Apple shares fell more than 2.5% in early trading today after Nikkei Asia reported that the company is cutting iPhone 18 Pro component orders due to weaker-than-expected demand. October orders were reportedly reduced by at least 15%, with higher memory costs and $100 price increases weighing on the outlook.
Source: MacRumors · Summarized by HeadlinesBriefing