Apple Hits $5 Trillion Market Cap as AI Chip Stocks Sell Off

Apple became the second company ever to surpass $5 trillion in market value on July 28, 2026, reaching $5.04 trillion intraday before easing below the threshold. Nvidia first crossed that mark in October 2025. Apple's strategy of outsourcing AI infrastructure to Google, rather than building it, has shielded the company from the sell-off dragging chip stocks into correction territory.