Apple briefly crossed the historic $5 trillion market valuation threshold Tuesday, becoming only the second company ever to reach the milestone and reclaiming its position as the world’s most valuable publicly traded company after a sharp rally in its stock price.

The iPhone maker’s shares climbed as much as 1.8% during early trading, reaching $342.89 per share and pushing the company’s market capitalization above the $5 trillion mark for the first time. Although the stock later surrendered much of those gains, the milestone underscored Apple’s remarkable resurgence in recent weeks.

With its latest surge, Apple overtook Nvidia to become the world’s most valuable company. Apple now holds an estimated market value of roughly $5 trillion, compared with Nvidia’s approximately $4.7 trillion. Alphabet follows with a valuation near $3.9 trillion, while Microsoft stands at about $2.9 trillion.

Apple’s stock has significantly outperformed Nvidia this year despite the latter’s dominance in artificial intelligence. Shares of Apple have climbed nearly 25% since the start of the year, while Nvidia’s stock has gained just 2.6% over the same period. Nvidia shares slipped about 1.4% in Tuesday trading.

The achievement highlights how rapidly the largest technology companies have expanded over the past several years. Apple became the first publicly traded company to reach a $1 trillion valuation in 2018, doubled that figure to $2 trillion in 2020, and crossed the $3 trillion mark in 2022. Nvidia later became the first company to surpass both $4 trillion and $5 trillion as investor enthusiasm surrounding artificial intelligence sent its valuation soaring.

The milestone came on the same day Apple unveiled a new financing program designed to make iPhones more affordable for consumers. Beginning soon, U.S. customers will be able to lease an iPhone for up to two years through a new program called Upgrade, with monthly payments starting at $17.99. The initiative is being launched in partnership with buy-now, pay-later provider Klarna and will be available through both Apple’s retail stores and online platform.

The announcement follows recent price increases across several Apple product lines. The company recently raised the starting prices of iPads and Mac computers by at least $100, with some premium models increasing by more than $1,000, citing a worldwide shortage of memory components.

For much of the past decade, Apple held the title of the world’s most valuable company after surpassing Exxon in market capitalization in 2011. The company later alternated with Microsoft for the top position before Nvidia overtook both amid the explosive growth of AI-related investments.

Like its largest competitors, Apple has been increasing investments in artificial intelligence, though at a far more measured pace. The company spent approximately $12.7 billion on capital expenditures during fiscal 2025, well below the massive spending plans announced by its rivals. Alphabet has projected about $205 billion in AI-related investments this year, while Microsoft and Amazon have each outlined plans to spend up to roughly $190 billion and $145 billion, respectively, as the race to dominate artificial intelligence intensifies.