Apple has become only the second company in history to have a market capitalisation exceeding $5 trillion. On Tuesday, the iPhone maker\u2019s shares reached $342.89, corresponding to a valuation of $5.04 trillion, but subsequently slowed their rise. The rally comes against a backdrop of investors pulling out of AI and semiconductor stocks, and expectations of strong demand for Apple\u2019s products.<\/p>\n
Briefly about the main points<\/strong><\/p>\n At its peak, Apple\u2019s share price stood at $342.89 per share. Later, the shares were trading 0.64% higher at $339.71, and the company\u2019s market capitalisation was close to $4.98 trillion.<\/p>\n Earlier this month Apple<\/a> has become the world\u2019s most valuable company, overtaking Nvidia. The chipmaker had topped the rankings since June 2025 and became the first company to break the $5 trillion mark last October.<\/p>\n Since the start of the year, Apple\u2019s shares have risen by 24%, significantly outperforming the other six companies in the \u00abMagnificent Seven\u00bb group of US tech giants.<\/p>\n Apple\u2019s rise coincided with an intensification of the global sell-off in artificial intelligence-related shares. The market is concerned about the scale of borrowing undertaken by AI companies to expand their data centres, as well as the practice of cross-financing within the sector.<\/p>\n At the opening of trading in the US, Intel, AMD, SanDisk, Western Digital and Seagate Technology were down by more than 4%. At one point, the Nasdaq 100 index was down by 1.8%; it has fallen by more than 10% from its record high in early June, which technically constitutes a correction. In South Korea, shares SK Hynix<\/a> and Samsung Electronics lost more than 10%.<\/p>\n Another factor influencing market sentiment was the news that China had begun mass production of its own DUV systems for chip manufacturing. According to Reuters, citing The Information, these systems currently lag behind ASML\u2019s equipment in terms of performance and reliability and require further testing.<\/p>\n Apple has benefited from not joining the massive spending race on AI infrastructure. Due to difficulties in developing its own models, the company is instead using Google\u2019s technology for new services, including the updated Siri. This has enabled it to avoid the substantial infrastructure costs that are causing concern amongst some investors in its competitors.<\/p>\n\n
From Nvidia to the new market leader<\/h2>\n
Investors are reassessing the value of AI expansion<\/h2>\n
More restrained spending on AI has boosted Apple<\/h2>\n