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FrontRow · Jul 28, 2026

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Apple on Tuesday briefly hit a market capitalization of $5 trillion, a day after passing Nvidia to become the most valuable publicly traded company. The jockeying between Apple and Nvidia reflects a debate about the future of AI that has preoccupied investors this summer. Apple shares are up 25% this year as investors move away from the hyperscaler story that’s focused on hefty AI capital expenditures.

Apple on Tuesday briefly hit a market capitalization of $5 trillion, a day after passing Nvidia to become the most valuable publicly traded company. The jockeying between Apple and Nvidia reflects a debate about the future of AI that has preoccupied investors this summer. Apple shares are up 25% this year as investors move away from the hyperscaler story that’s focused on hefty AI capital expenditures.

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