Apple’s market valuation briefly surpassed $5 trillion (£3.8tn) on Tuesday, before closing slightly below that mark, amid a broader sell-off of AI-related shares.

The iPhone maker’s shares closed the day 0.9 percent higher, on a day when investors sold shares in firms closely associated with the AI boom.

Nvidia is the only other listed US company to have surpassed a $5tn valuation.

Apple, which has eschewed the heavy spending on AI infrastructure that other large tech companies have engaged in over the past three years, has not seen its share price skyrocket during that time, but has also at times benefited from being seen as a less risky bet than others.

Memory chip manufacturer Sandisk, for instance, fell 11 percent on Monday and a further 14.2 percent on Tuesday, and has lost more than 50 percent of its value this month.

But its shares are still worth more than four times their value at the beginning of 2026.

Western Digital and Micron dropped 6.9 percent and 8.9 percent on Tuesday, while GPU chipmaker AMD fell 8.1 percent.

The sell-off came amid increasing capital expenditures announced by large companies such as Google, which last week said it had also fallen into negative free cash flow for the first time since going public 20 years ago.

Apple has been seen as lagging behind others on AI, but in January announced a multi-year deal with Google to use Google’s Gemini AI technology, and is expected to announce a revamped Siri using the tech this autumn.