00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Apple became the second company to close above $5 trillion in market value on Wednesday,
00:07joining NVIDIA and setting a new record as CEO John Ternus begins his tenure,
00:12according to the Wall Street Journal. The tech giant previously surpassed $5 trillion
00:16six times during intraday trading, but this milestone is the first time it has closed above
00:20that level. The milestone follows Tim Cook's 15 years as chief executive, during which Apple's
00:25market capitalization increased 13-fold and its services business grew beyond $100 billion
00:30annually. Investors have continued pushing Apple shares higher, even as rising chip costs prompted
00:35price increases across its devices. Ternus now faces the challenge of sustaining Apple's growth
00:40while competing with AI rivals, including OpenAI. For all things money, visit Benzinga.com.
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