AAPL Surpasses $5 Trillion for Brief Moment Amid New Product Launches

Apple's stock reached a new intraday high on September 23, briefly pushing its market value above $5 trillion. The milestone was short-lived, with AAPL trading at $336.98 by 14:28 UTC, down about 0.8% for the day. This put its market capitalization around $4.96 trillion.

The company's valuation comes as investors assess the impact of new products on sales. Apple unveiled iPhone Duo on September 9, introducing its first foldable iPhone and rolling out Siri AI in beta. These launches give buyers reasons to replace older phones, though their effect on sales remains to be demonstrated.

Morgan Stanley analyst Erik Woodring estimated that 57% of iPhone users have devices older than the iPhone 15 Pro, providing an opportunity for new sales. However, Apple's July forecast for September-quarter revenue growth fell short of analysts' expectations, with supply pressures cited as a concern.