Apple reaches $5 trillion market cap after foldable iPhone showcase
Apple is about to hit a massive milestone, joining the $5 trillion market-cap club.
Its stock just climbed past the magic number, making Apple only the second company after NVIDIA to reach this level.
This jump comes after Apple's Sept. 9 showcase of the foldable iPhone Duo, which will be available on Oct. 23.
John Ternus pushes product innovation
A lot of this momentum comes from fresh leadership and some bold product moves.
New CEO John Ternus, who took over from Tim Cook at the beginning of the month, has pushed out innovations like the foldable iPhone Duo and AI-powered Siri, even with its steep $1,999 price tag.
While other tech giants are pouring money into AI infrastructure, Apple's more careful approach is keeping investors confident and helping it ride out an unpredictable tech market.