Apple's iPhone Air and 17 series are displayed during the launch day in 2025 at Apple Omotesando store in Tokyo. On Tuesday, Apple became the second company to hit the $5 trillion valuation mark. File Photo by Keizo Mori/UPI | License Photo
July 28 (UPI) -- On Tuesday, Apple became the second company to pass the $5 trillion valuation mark, one day after it passed Nvidia to become the world's most valuable publicly traded company.
While Apple held the $5 trillion mark for a brief time, that still leaves it in rare territory. Nvidia was the first company to hit the $5 trillion valuation mark, which it did in October. Companies calculate this valuation by multiplying a company's share price by its outstanding shares.
Apple shares have climbed 25% this year, outpacing many other tech companies, CNBC reported. The stock hit a high of $342.89 Tuesday before falling slightly.
The company has benefited lately from investor concerns about AI companies' investment spending, borrowing and debt involving artificial intelligence.
