Apple Closes Above $5 Trillion Market Cap for First Time Ahead of New iPhones

Apple has ended a trading session with a market capitalization above $5 trillion for the first time. MacRumors reported that the company became only the second after Nvidia to hold that level at the market close.

Apple shares closed at $342.96, corresponding to a market value of $5.005 trillion. The company had previously crossed $5 trillion six times during trading, but had never remained above the threshold at the close.

Nvidia still holds the lead

Apple briefly overtook Nvidia as the world’s most valuable company in July. Nvidia later regained the lead, with a market capitalization of $5.33 trillion, according to the report.

Apple reached the new valuation slightly more than a month after John Ternus replaced Tim Cook as chief executive. The milestone also came two days before preorders for the iPhone Duo were scheduled to begin.

iPhone 18 Pro demand remained uncertain

On October 9, Apple shares fell more than 2.5% early in trading after Nikkei Asia reported that the company had reduced component orders for the iPhone 18 Pro.

The report said October orders were allegedly cut by at least 15% because demand was weaker than expected. It also cited higher memory costs and a $100 price increase; Apple had not commented on those claims.