Apple shares reached $345 intraday on Tuesday, setting a record high before closing at $339.75 and briefly lifting the iPhone maker above a $5 trillion market value. The stock has gained 25% so far this year following Apple’s product unveiling earlier this month, though the reported closing price remained below the $342.602 level previously cited as necessary for a regular-session close above $5 trillion. The rally is unfolding under John Ternus, who became Apple CEO at the beginning of September, replacing Tim Cook. Apple’s new $1,999 iPhone Duo foldable has a 5.4-inch outer display and a 7.6-inch screen when opened, while a higher-specification version costs more than $3,100. Earlier reporting scheduled preorders for October 16 and a release on October 23; the latest account describes the launch as occurring in late October. Wall Street is also focused on the iPhone 18 range, which went on sale worldwide last Friday with a $100 higher price tag. Evercore ISI analyst Amit Daryanani said demand appeared resilient during the product cycle’s first week, although supply limits may also be affecting availability. Investors continue to weigh Apple’s product demand, services revenue, AI strategy and capital discipline against its elevated valuation.