JOHANNESBURG - Apple has taken another historic bite.
The tech giant has briefly become only the second company ever to hit a $5 trillion market valuation.
The milestone comes after a strong rally in the company's stock this year.
iPhone sales fuelled the rally, improved investor confidence and expectations that Apple is narrowing the gap with rivals in AI.
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Apple briefly overtook chipmaker Nvidia to reclaim the title of the world's most valuable listed company.
Nvidia was the first to reach the mark, but concerns that the AI spending boom may be losing steam have weighed on its shares.
Investors are now watching Apple's upcoming earnings for further signs of growth.