India, July 30 -- Apple briefly crossed a USD 5 trillion market capitalisation this week, becoming only the second publicly traded company after Nvidia to reach the landmark, as investors increasingly favour its lower-capital approach to artificial intelligence ahead of its quarterly results.

The iPhone maker's shares climbed to an intraday high of USD 342.89 on Tuesday, taking its valuation to about USD 5.04 trillion before it slipped back below the threshold. Apple had already overtaken Nvidia earlier in July to reclaim the position as the world's most valuable publicly traded company.

The stock remained close to the milestone on Wednesday, briefly rising to USD 343.96 before closing 0.6% lower at USD 338.19. That left Apple's market...