The iPhone maker became the second company after Nvidia to finish a trading day above the milestone.
Apple ended Wednesday at a $5.005 trillion market value, according to Dow Jones Market Data, after six earlier intraday crossings. Its shares rose 0.5% even as the Nasdaq fell 1.88%.
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Apple became the second company after Nvidia to close above a $5 trillion market capitalization on Wednesday, Oct. 14. The Wall Street Journal reported that Apple ended the session at $5.005 trillion, according to Dow Jones Market Data.
The close turned an intraday milestone into a full-session record. Apple had crossed the $5 trillion threshold six previous times during trading, the Journal reported, but had never stayed above it through the closing bell.
Apple’s shares rose 0.5% even as the broader market moved the other way. Reuters reported that the Nasdaq Composite fell 1.88% and the S&P 500 lost 1.11% after hotter-than-expected inflation data raised concerns about further Federal Reserve rate increases. The S&P 500’s information technology sector fell 2.6%.
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