Apple briefly hits $5 trillion market value, topping Nvidia
What's next: Apple reports earnings Thursday in Tim Cook's last call as CEO before John Ternus takes over Sept. 1.
Apple briefly crossed a $5 trillion market capitalization on Tuesday, becoming only the second company to reach that threshold and overtaking Nvidia as the biggest company in the S&P 500. The iPhone maker's shares rose as much as 1.8% to $342.89 before slipping back below the mark; a close above $340.43 would keep it there. The move came a day after Apple passed Nvidia in market value. Apple shares are up about 25% this year, outpacing many megacap peers ahead of quarterly results due Thursday. The milestone lands as investors reassess heavy artificial intelligence spending across big tech, while Apple has kept capital expenditures comparatively low and relied in part on cloud infrastructure and AI technology from Google.