Apple tops $5 trillion market cap, only second company to hit the milestone
Apple briefly became the second publicly traded company in history to reach a $5 trillion market capitalization on July 28, 2026, less than a year after hitting $4 trillion. The milestone was driven by strong iPhone sales, with stock up 24% year-to-date and nearly 60% over 12 months. Despite past investor criticism over lagging in AI, Apple signed a deal to use Google's Gemini AI for Siri and plans to launch an overhauled Siri alongside its first foldable iPhone and iPhone 18 lineup. Apple has been insulated from steep sell-offs faced by AI-focused rivals like Microsoft, but is contending with an AI-induced global memory shortage that has forced price hikes on Mac and iPad products. CEO Tim Cook is preparing to hand over leadership to John Ternus on September 1.
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