Apple’s market cap briefly topped $5 trillion as investors await fiscal Q3 results to validate recent gains and leadership transition.
Apple’s shares briefly reached a $5 trillion market valuation, hitting $342 intraday before closing at $336.91, as traders brace for fiscal third-quarter earnings on July 30. The report must justify a 24% year-to-date gain and a 58% one-year rally amid rising memory costs and a CEO transition.
Last quarter, Apple posted $111.18 billion in revenue, with iPhone sales at $56.99 billion and Services at a record $30.98 billion. The board also approved a $100 billion buyback and a 4% dividend hike. Prediction markets assign an 89% probability to iPhone revenue clearing $52 billion this quarter.
Tim Cook’s departure in September shifts leadership to hardware chief John Ternus, adding pressure to deliver strong results. The stock’s performance hinges on whether Q3 figures sustain momentum or trigger a pullback.