Overview
- Apple’s shares pushed its market capitalization above $5 trillion during intraday trading on Tuesday, July 28, before the stock settled just under the threshold at the close.
- The move returned Apple to the top spot in global market‑cap rankings after Nvidia’s shares fell, reflecting investors moving away from firms committing massive spending to AI data‑center builds.
- Analysts and reporting say Apple’s cautious AI approach—relying on rented cloud compute and third‑party models rather than huge in‑house data centers—has preserved cash flow and helped attract buyers.
- Apple announced a U.S. device leasing program called Upgrade with Klarna and has raised Mac and iPad prices because of memory shortages, developments that could shape device demand and margins.
- The near term hinges on Thursday’s quarterly earnings, which is Tim Cook’s final earnings call before John Ternus becomes CEO on Sept. 1, and on how other Big Tech capex plans evolve.