Apple Could Become a $5 Trillion Company on July 30

Earnings

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Summary · why it matters

Apple is poised to become only the second company ever to reach a $5 trillion market capitalization when it reports fiscal third-quarter earnings on July 30. The stock has surged 27% over the past three months, briefly touching the $5 trillion mark earlier this week and reclaiming the title of the world's most valuable company from Nvidia. Wall Street expects revenue of $108.96 billion, a 16% year-over-year increase, and earnings per share of $1.89, up from $1.57 a year ago. The rally has been fueled by strong iPhone sales, which rose 23% in the holiday quarter and 21% in the following quarter, along with a cost-effective AI strategy that includes a $1 billion annual deal to license Alphabet's Gemini large language model. Additional catalysts include a new supplier agreement with Broadcom, talks with a startup to shrink large language models for iPhones, and the launch of the Apple Upgrade leasing program in the U.S.