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Apple's market capitalization surpasses $5 trillion, stock price hits record high.
Apple Inc.'s market capitalization officially surpassed $5 trillion at Wednesday's close, reaching $5.005 trillion, making it the second publicly traded company globally to achieve this milestone after NVIDIA. This breakthrough occurred against a backdrop of overall pressure on U.S. stocks, with the S&P 500 index falling 1.1% and the Nasdaq 100 index dropping 2% on the day. Previously, Apple had touched the $5 trillion mark multiple times intraday in July but failed to sustain it. This milestone coincides with the end of the Tim Cook era and the appointment of John Ternus as the new CEO.
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