Apple ended a trading day worth more than $5 trillion for the first time on Wednesday, The Wall Street Journal reports. Its shares rose 0.5% to a record close of $342.96 (about Php 21,600) in New York, for a market value of about $5.005 trillion (about Php 315 trillion).
Only NVIDIA had closed above that mark before. It’s still the bigger company, at roughly $5.3 trillion (about Php 333 trillion).
It took Apple seven tries. Its value had gone over $5 trillion six times before during regular trading, the Journal says, and each time it slipped back by the close.
Wednesday was a rough day to set a record, too. Inflation went up and rate hikes are back on the table for those in the US; the Nasdaq Composite fell nearly 1.9%, but Apple went up anyway.
The record comes six weeks into John Ternus’s time as CEO. Apple’s former hardware engineering chief took over from Tim Cook on September 1st. When Apple announced the handover in April, it said Cook had taken it from a market value of about $350 billion to $4 trillion.
The close also landed the day after Apple’s home launch, which brought the HomeView smart display, a new Apple TV 4K and HomePod mini 2. The first foldable iPhone is next: the iPhone Duo goes on pre-order in the US on Friday, October 16th, at 5 a.m. PT.
In the Philippines, iPhone Duo pre-orders open the same day at 8 p.m., from Php 159,990 (about $2,540), and it’s available from October 30th.
