Apple tops $5 trillion, Coca-Cola hits record as stocks surge

Apple Inc. rose 0.8% to $342.80, pushing its market capitalization past $5 trillion for the first time, while Coca-Cola Co. also hit a record high on July 29.

The milestone makes Apple the first publicly traded company to close above $5 trillion in market value, widening its lead over Microsoft Corp. and Nvidia Corp. as the world's most valuable company. Apple's gain came as investors continued to reward the iPhone maker's expanding services revenue and artificial intelligence initiatives, which have supported expectations for future earnings growth, according to market data.

Coca-Cola's 2.39% advance to $90.38 brought its market cap to $388.9 billion, extending a rally driven by steady demand for its beverage portfolio and consistent dividend growth. The stock, a traditional defensive holding, has benefited from its pricing power and global distribution network, which have helped the company maintain revenue growth even as consumer spending shows signs of moderation.

The dual records show the breadth of the current market rally, with both growth and value names reaching new peaks simultaneously. Apple's $5 trillion valuation cements its position as the dominant force in global equities, driven by its leadership in smartphones and its push into higher-margin services. Coca-Cola's advance reflects its status as a reliable dividend payer, appealing to income-focused investors.

The records come as the broader market trades near its own highs, supported by resilient corporate earnings and expectations that the Federal Reserve may begin cutting interest rates later this year. For Apple, the path past $5 trillion reinforces its standing as the world's most valuable company, while Coca-Cola's record highlights the strength of consumer staple stocks in the current environment.

This article is for informational purposes only and does not constitute investment advice.