Apple reaches $5T market cap for the first time, dwarfing the entire crypto market

Apple just did something only one other company has ever done. On July 28, the tech giant’s market capitalization briefly surpassed $5 trillion during intraday trading, a number so large it makes the entire cryptocurrency market look like a mid-cap stock by comparison. The milestone was hit when AAPL shares crossed above $340 per share. Apple couldn’t quite hold the line through closing bell, finishing the session with a market cap estimated between $4.96 trillion and $4.98 trillion. Still, the intraday touch counts. The five-comma club now has its second member. The $5 trillion race and who got there first Nvidia beat Apple to the punch. The chipmaker previously crossed the $5 trillion mark, making Apple the runner-up in what has become the most expensive horse race in financial history. The rivalry between these two isn’t just about bragging rights. As of August 1, prediction markets placed Nvidia’s chances of being the largest company by market cap at the end of August at roughly 48.5%. Apple’s path to $5 trillion wasn’t a sudden spike. The company previously cleared the $3 trillion, $4 trillion, and $4.5 trillion milestones in succession. Why crypto investors should pay attenti...