Apple Nears $5 Trillion Market Cap on Foldable iPhone Duo and Product Launches

Apple Inc. shares briefly crossed the historic $5 trillion market capitalization threshold, touching an intraday all-time high of $345.34 before closing at $339.75, valuing the company at $4.96 trillion. The rally has lifted Apple stock 7.2% in September and 25% year-to-date, narrowing the valuation gap with Nvidia's $5.50 trillion cap. Gains have been powered by strong initial demand and upgrade enthusiasm for the newly launched iPhone 18 Pro lineup and Apple's first foldable device, the $2,000 iPhone Duo, debuted alongside a $58-per-month leasing plan under new CEO John Ternus.