Apple briefly surpasses $5 trillion market value, joining Nvidia

Shortly after starting for business, Apple shares increased by as much as 1.8% to $342.89. Raising the company’s market capitalization above $5 trillion for the first time. However, gains were later trimmed to stay essentially flat.

After overtaking the AI behemoth on Monday, Apple is now the largest corporation in the world by market value. Surpassing Nvidia ($4.7 trillion) as well as Alphabet ($3.9 trillion) and Microsoft ($2.9 trillion).

So far this year, Nvidia and Apple have increased at different rates: Nvidia shares, which were down 1.4% on Tuesday, are up just 2.6%, while Apple shares are up about 25%.

The pace at which companies have grown has accelerated in recent years: Apple became the first $1 trillion company in 2018. The first $2 trillion company in 2020, and the first $3 trillion company in 2022.

Nvidia was then the first to reach both $4 trillion and $5 trillion, as growing demand for AI products caused the valuations of many tech companies to rise rapidly.

Apple long held the title of the world’s most valuable company before being overtaken by Nvidia in 2024, and later falling behind Microsoft. The iPhone maker held the top spot in market capitalization for most of the previous decade after overtaking Exxon in 2011. The company then periodically traded positions with Microsoft.

Apple, like its mega-cap competitors, has accelerated its spending on AI products over the past year, although its spending projections are just a fraction of others. Apple’s capital spending totaled $12.7 billion in fiscal 2025, while Alphabet plans to spend $205 billion this year. Microsoft and Amazon have increased their annual spending plans to $190 billion and $145 billion, respectively.