Apple briefly touched the $5 trillion valuation mark on Tuesday, becoming only the second publicly traded company in history to reach the milestone. Shares have climbed roughly 24% year to date and nearly 60% over the past 12 months, fueled by strong iPhone demand despite the company lagging some Big Tech peers in the generative AI race. Meanwhile, crude oil futures dropped for a third straight session, with Nymex crude for September delivery falling 1.3% to $81.53 per barrel and Brent September crude slipping 1.4% to $87.18. Boeing beat second-quarter revenue expectations with $24.56 billion, up 8% and topping the consensus estimate of $24.27 billion, but posted a wider adjusted core loss of $0.76 per share, worse than the expected loss of $0.31, partly due to a $280 million charge tied to the delayed Air Force One VC-25B program. The U.S. Consumer Confidence Index slipped to 90.8 in July from 92.2 in June, missing the 92.3 consensus, as the Present Situation Index fell 3.6 points to 114.9 and the Expectations Index was unchanged at 74.7.
Apple Inc.Strong iPhone demand drives stock to $5 trillion market cap
The Boeing CompanyWider adjusted core loss of $0.76 per share, worse than expected, partly due to $280M charge