Apple tops $5tn valuation for first time

Apple Inc. became the first company to close a trading day with a market capitalization above $5 trillion, reaching $5.01 trillion on Thursday. The milestone was driven by investor confidence in Apple's restrained spending on artificial intelligence and a flight to safety amid a sell-off in the semiconductor sector.

Apple tops $5tn valuation for first time Source: Financial Times Technology https://www.ft.com/technology Tech giant gains due to its lack of huge spending on AI and as investors seek havens from sell-off in chip sector Get AI news in your inbox Daily digest of what matters in AI.