Apple's Market Cap Breaks $5 Trillion to Top Global Ranking, Lifting Hong Kong Consumer Electronics Stocks
Apple's market capitalization briefly exceeded $5 trillion, overtaking Nvidia as the world's most valuable listed company. This boosted Hong Kong's consumer electronics sector on July 29, with Xiaomi rising over 9% and rebounding about 40% from recent lows. BYD Electronic and Anker Innovation each gained over 5%, while ZTE and others rose more than 3%. Apple's stock has climbed over 20% in the past month. The sector enters its traditional peak season with new AI-powered devices launching.
Apple's share price hit a record high, with its market capitalization briefly surpassing $5 trillion, overtaking Nvidia to become the world's most valuable listed company. Driven by this, Hong Kong's consumer electronics sector performed strongly on July 29. Xiaomi Group-W rose over 9%, rebounding approximately 40% from its earlier low. BYD Electronic and Anker Innovation both gained more than 5%, while ZTE and several other stocks rose over 3%.
Apple's stock has been rising since late June from around $274, accumulating a gain of over 20% in the past month. The consumer electronics sector had previously undergone a significant correction, with valuations of related stocks retreating, but industry fundamentals remained stable.
Entering the second half of the year, the consumer electronics industry has entered its traditional peak season. The world's first AI-agent smartphone was officially unveiled, Samsung released its first AI glasses, and Apple's first foldable-screen phone and other new products are being launched successively. Recently, on-device generative AI services have been intensively registered, and multiple major terminal manufacturers are accelerating their AI capability deployment.