Apple (AAPL) Surpasses $5 Trillion Market Cap Without AI Spending Spree... Is Nvidia's Throne Threatened?

▲ Apple (AAPL), Nvidia (NVDA)/AI generated image

Apple (AAPL) once again threatened Nvidia's (NVDA) position as the world's largest company by reaching a market capitalization of $5 trillion, making it the second company globally to do so.

According to cryptocurrency specialized media BeInInCrypto on July 29 (local time), Apple's market capitalization briefly reached $5 trillion during trading on July 28. The stock price rose to a high of $342.89 during the day before giving back some of its gains. Apple is the second listed company to surpass a $5 trillion market capitalization, following Nvidia.

Apple's stock price has risen approximately 25% this year. During the same period, Nvidia's increase was only 6%. The two companies have exchanged the title of the world's largest market capitalization company several times in recent weeks.

Apple drew attention for its strategy of keeping AI infrastructure investment lower than its competitors. It has not yet secured its own large language model, and the revamped Siri will utilize Google's cloud technology. Apple plans to launch the revamped Siri along with new iPhones this fall.

Apple will announce its third-quarter earnings on July 30. This will be the last earnings call presided over by Apple CEO Tim Cook. Apple's next CEO, John Ternus, will take office on September 1. Market attention is focused on these results, as the key driver behind Apple's market cap increase was iPhone sales rather than AI investment.

Apple also launched an iPhone rental program, Upgrade, with fintech company Klarna. US customers can use an iPhone for $17.99 per month instead of purchasing it. Apple also raised the prices of MacBooks and iPads last month, citing rising memory and storage costs.

[Article Key Summary]

-Apple reached a market capitalization of $5 trillion during intraday trading, becoming the second listed company after Nvidia to achieve this record.

-Apple's stock price rose approximately 25% this year, and its strategy of refraining from large-scale AI infrastructure investment was highlighted as a differentiator from competitors.

-The third-quarter earnings, to be announced on July 30, are expected to show whether iPhone-centric growth can support a $5 trillion market capitalization.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*