Apple's $5 Trillion Market Cap Fades as New iPhone Cycle Begins

Apple's market capitalization briefly touched $5 trillion on September 22nd when its stock price reached $345.34, but it did not hold the level.

The company's closing price on that day was $339.75, which gave it a valuation of about $5.04 trillion using Apple's reported July 17 share count of 14.594 billion shares.

The iPhone 18 Pro cycle has started with strong sales, and the new Pro models hit the shelves on September 18. The revenue from iPhones jumped 22% in the third quarter to $54.25 billion, with especially strong sales for the Pro models.

The Services division also performed well, with a 12% increase in revenue to $30.74 billion in fiscal Q3. Apple will be assessed based on the performance of its recently released devices and the Duo, which is expected to positively impact the holiday quarter results.