Apple's market capitalization surpassed $5 trillion for the first time during intraday trading, regaining its position as the world's most valuable company.

Apple’s market capitalization surpassed $5 trillion for the first time during Tuesday’s trading session, overtakingNVIDIA and reclaiming the title of the world’s most valuable company for the first time since May of last year. The market interpreted this milestone as a revaluation of Apple’s “cost-efficient” AI strategy.While peers such as Alphabet have announced massive capital expenditures and reported negative free cash flow, Apple has taken a restrained approach by leasing computing power rather than investing heavily in building its own data centers or chips. Its capital expenditures have continued to decline over the past three quarters, a move viewed by the market as a rare “safe-haven attribute.”Apple’s stock price has risen by about 25% year-to-date, while the NVIDIA has gained approximately 7% over the same period. Apple is set to release its latest quarterly earnings report after the market closes this Thursday (July 30), at which time it will quantify the specific financial impact of the memory chip shortage.