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Apple Valuation Reaches $5 Trillion as Foldable Phone Launch and China AI Approval Approach

BullishHigh impact
AAPL$344.23 0.37%

Apple Inc. (AAPL) has crossed a $5 trillion market valuation, closing the market cap gap with Nvidia Corp. (NVDA) for the title of the world's most valuable public company. Apple shares reached an intraday peak of $347.85, pushing its market capitalization to nearly $5.1 trillion. The move makes Apple only the second company to cross the $5 trillion threshold, bolstered by a 3.5% gain over the past five trading sessions while Nvidia stock fell nearly 6%.

Apple's relative stability during a broader artificial intelligence selloff stems partly from its lighter capital spending on AI data center infrastructure compared to peers. Additionally, the company is preparing for major product releases, including opening preorders for its first foldable smartphone, the iPhone Duo, alongside newly announced smart-home devices like the HomeView display and updated Apple TV 4K. Further supporting sentiment, Apple Intelligence has received regulatory approval in China, clearing a critical barrier in one of the tech giant's key international markets.

Investors will be watching several upcoming catalysts, starting with iPhone Duo preorders on Friday ahead of its official release on Oct. 23. A test version of Apple Intelligence is scheduled to roll out in China later in October, though a full commercial release date remains unconfirmed. Finally, Apple is set to report its fiscal fourth-quarter earnings on Nov. 2, which will offer clearer insight into device demand and global revenue growth.

Key points

  • Apple Inc. reached an intraday high of $347.85, lifting its market capitalization to nearly $5.1 trillion.
  • The company cleared a major regulatory hurdle in China as Apple Intelligence received official approval.
  • Preorders for Apple's first foldable smartphone, the iPhone Duo, open on Friday ahead of an Oct. 23 release.
  • Apple is scheduled to report its fiscal fourth-quarter financial results on Nov. 2.

Written by our AI from expert market sources across the web. It can contain mistakes: check the facts before acting on them. Write-ups powered by the free AI API at FreeTheAI.org

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Questions and answers

What is Apple's current market capitalization?

Apple's market capitalization reached nearly $5.1 trillion after its stock touched an intraday high of $347.85, making it the second public company to cross the $5 trillion milestone.

When does Apple launch the iPhone Duo?

Preorders for the iPhone Duo, Apple's first foldable smartphone, begin on Friday, with official market availability starting on Oct. 23.

Has Apple Intelligence been approved in China?

Yes, Apple Intelligence has received regulatory approval in China, with a test version expected to launch later in October.