Apple tops $5tn valuation for first time

Apple reclaimed the title of the world's most valuable public company on Monday, pulling ahead of Nvidia as investor sentiment shifted sharply toward companies with more restrained artificial intelligence spending, just days before Apple reports quarterly earnings that Wall Street expects to show double-digit sales growth.

Shares of Apple rose as much as 1.8% to $342.89 shortly after trading opened, pushing the company’s market capitalization just above $5 trillion for the first time, before paring back gains to be largely unchanged.

Apple Briefly Hits $5 Trillion Market Cap

Apple's market value climbed to about $4.94 trillion, topping Nvidia's roughly $4.83 trillion.