Apple $AAPL became the second company to close with a market value above $5 trillion on Wednesday, ending the session at market capitalization of $5.005 trillion. Nvidia $NVDA is the other.
Apple stock closed at $342.96, up 0.5% on the Nasdaq $NDAQ. Apple's market value had topped $5 trillion during intraday trading six times before Wednesday but had never held that level through the closing bell, according to The Wall Street Journal.
The gain came as most large tech stocks fell. Oracle $ORCL led the declines among big tech names, falling 8.83%, while Meta $META shed 3.27%, Nvidia 3.16%, Microsoft $MSFT 1.8%, Amazon $AMZN 1.74%, and Google $GOOGL 1.68%.
Nvidia, which closed above $5 trillion in October 2025, has a market capitalization of $5.33 trillion and holds the top spot among U.S. companies by value. Apple briefly passed Nvidia in July, according to MacRumors.
The milestone comes after a change in leadership. Apple announced in April that Tim Cook would step down as CEO. CEO John Ternus took over on Sept. 1, and Cook became executive chairman. Apple stock has risen 8.2% from its Aug. 31 close of $316.85.
Apple stock has climbed while chip costs have risen. Prices for memory and storage chips have jumped as data centers have driven demand and shortages, according to The Journal. In response, Apple lifted prices throughout its product range, even on older iPhone models that have historically been discounted when newer versions arrive. Apple stock has gained 25% since the first round of increases.
Apple is scheduled to report fiscal fourth-quarter earnings on Nov. 2, according to 9to5Mac. The report will show how the company has handled rising component costs and the effect of its price increases.
Pre-orders for the iPhone Duo are set to start Friday, according to MacRumors.
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