Around midday on July 28, Apple stock jumped around 3% to achieve, for the first time, a market cap of $5 trillion, hitting a number that only one enterprise, Nvidia, had ever reached. A few days before, in fact, Apple had surged past the GPU giant to regain its mantle as the world’s most valuable company (Nvidia has recently retreated to $4.79 trillion). It looks as if Apple got its most recent boost from a Bloomberg report that the iPhone maker is planning a big push into the smart-home sector by launching a new Siri-powered home hub and updated Apple TV, alongside a fresh HomePod mini, all of which could potentially hit the market by this fall. Plus, Apple used to get brickbats from Wall Street for its super-cautious approach in AI investment. Now that it appears the hyperscalers may be overbuilding data centers en route to a glut, the analysts and money managers are applauding Apple’s restraint.
Still, the recent moonshot in Apple’s stock poses a tough choice for folks and funds mulling a purchase right now, or tempted to sell and profit from the recent windfall on fears it will fade: Apple has just become something it seldom was before, extremely, even scarily, expensive.
