{"id":65544,"date":"2026-07-28T10:08:14","date_gmt":"2026-07-28T14:08:14","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/tech-giants-diverge-as-apple-hits-5-trillion-while-spacex-erases-1-2-trillion\/65544\/"},"modified":"2026-07-28T10:08:14","modified_gmt":"2026-07-28T14:08:14","slug":"tech-giants-diverge-as-apple-hits-5-trillion-while-spacex-erases-1-2-trillion","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/tech-giants-diverge-as-apple-hits-5-trillion-while-spacex-erases-1-2-trillion\/65544\/","title":{"rendered":"Tech Giants Diverge as Apple Hits $5 Trillion While SpaceX Erases $1.2 Trillion"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>Apple (<a href=\"\/stock\/AAPL\">AAPL<\/a>)<\/strong> made history by becoming only the second company to ever surpass a <strong>$5 trillion market capitalization<\/strong>, briefly hitting the milestone during intraday trading.<\/li>\n<li><strong>SpaceX (<a href=\"\/stock\/SPCX\">SPCX<\/a>)<\/strong> shares plummeted <strong>20% below their IPO price<\/strong>, resulting in a massive <strong>$1.2 trillion loss<\/strong> in market value from its post-listing peak.<\/li>\n<li>The <strong>Nasdaq 100 (<a href=\"\/stock\/NDX\">NDX<\/a>)<\/strong> is on the verge of a formal correction, having dropped <strong>10% from its all-time high<\/strong> amid a broader sell-off in semiconductor and AI-related stocks.<\/li>\n<li><strong>Coca-Cola (<a href=\"\/stock\/KO\">KO<\/a>)<\/strong> shares surged as much as <strong>5.2% to a record high<\/strong> after the company posted strong second-quarter earnings and raised its full-year guidance.<\/li>\n<li><strong>Elon Musk\u2019s<\/strong> personal net worth has seen a sharp pullback, falling by approximately <strong>$130 billion<\/strong> in just five trading days due to the simultaneous decline of SpaceX and Tesla.<\/li>\n<\/ul>\n<h2>Apple Reaches Historic $5 Trillion Milestone<\/h2>\n<p>Apple (<a href=\"\/stock\/AAPL\">AAPL<\/a>) became the second company in history to cross the <strong>$5 trillion market cap<\/strong> threshold on Tuesday. The tech giant&#39;s shares climbed as much as <strong>1.8% to $342.89<\/strong> shortly after the market opened, briefly pushing its valuation past the historic mark before paring some gains.<\/p>\n<p>This achievement follows a period where Apple (<a href=\"\/stock\/AAPL\">AAPL<\/a>) and <a href=\"https:\/\/stockmarketwatch.com\/stock\/NVDA\" data-internallinksmanager029f6b8e52c=\"15\" title=\"stock: NVDA\">Nvidia<\/a> (<a href=\"\/stock\/NVDA\">NVDA<\/a>) have frequently swapped positions as the world&#39;s most valuable company. <a href=\"https:\/\/stockmarketwatch.com\/stock\/NVDA\" data-internallinksmanager029f6b8e52c=\"15\" title=\"stock: NVDA\">Nvidia<\/a> (<a href=\"\/stock\/NVDA\">NVDA<\/a>) was the first to reach the $5 trillion mark in October 2025, though it has since seen a significant valuation pullback. Apple&#39;s rise has been fueled by record <strong>iPhone 17 revenue<\/strong> and a strong rebound in the Chinese market.<\/p>\n<h2>SpaceX Valuation Crumbles Post-IPO<\/h2>\n<p>In a stark contrast to Apple&#39;s success, SpaceX (<a href=\"\/stock\/SPCX\">SPCX<\/a>) has seen more than <strong>$1.2 trillion in market value evaporated<\/strong> since its June peak. The stock continued its downward trajectory on Tuesday, falling more than <strong>5.5% to approximately $107<\/strong>, well below its initial public offering price of <strong>$135<\/strong>.<\/p>\n<p>The decline marks one of the largest market capitalization losses in history, with the stock now trading nearly <strong>50% below its record high of $225.64<\/strong>. Investors have expressed growing skepticism regarding the company&#39;s path to profitability and high capital expenditure, even as <strong>Cathie Wood\u2019s ARK Investment Management<\/strong> reportedly moved to &quot;buy the dip&quot; by accumulating more shares.<\/p>\n<h2>Nasdaq 100 Faces Correction Territory<\/h2>\n<p>The tech-heavy <strong>Nasdaq 100 (<a href=\"\/stock\/NDX\">NDX<\/a>)<\/strong> is officially set for a correction as it sits <strong>10% below its all-time high<\/strong>. The index was down <strong>110.77 points (0.44%)<\/strong> at 24,821.31 in early trading, weighed down by a significant slide in semiconductor stocks.<\/p>\n<p>The <strong>Philadelphia Semiconductor Index<\/strong> dropped more than <strong>5% intraday<\/strong>, hitting its lowest level in two months. Major chipmakers including <a href=\"https:\/\/stockmarketwatch.com\/stock\/MU\" data-internallinksmanager029f6b8e52c=\"20\" title=\"Stock: MU\">Micron<\/a>, Intel, and <a href=\"https:\/\/stockmarketwatch.com\/stock\/AMD\" data-internallinksmanager029f6b8e52c=\"16\" title=\"stock: AMD\">AMD<\/a> saw sharp declines as the market recalibrates its expectations for the AI sector. <em>Analysts suggest that the sudden reversal in bond yields and concerns over AI monetization are driving the current deleveraging trend.<\/em><\/p>\n<h2>Coca-Cola Defies Market Trends with Record Highs<\/h2>\n<p>While technology stocks struggled, <strong>Coca-Cola (<a href=\"\/stock\/KO\">KO<\/a>)<\/strong> provided a bright spot for the <a href=\"https:\/\/stockmarketwatch.com\/indices\/dowjones\/today\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Dow Jones Today\">Dow Jones<\/a> Industrial Average (<a href=\"\/stock\/DIA\">DIA<\/a>). The beverage giant&#39;s shares climbed to a fresh record high of <strong>$88.30<\/strong> following a robust second-quarter earnings report.<\/p>\n<p>The company reported <strong>adjusted earnings per share of $0.97<\/strong> on revenue of <strong>$13.38 billion<\/strong>, both of which exceeded Wall Street estimates. Driven by a <strong>5% increase in global unit case volume<\/strong> and successful marketing activations around the FIFA World Cup, Coca-Cola (<a href=\"\/stock\/KO\">KO<\/a>) raised its full-year organic revenue growth guidance, reinforcing its status as a preferred &quot;safe haven&quot; for investors during periods of high-growth volatility.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Apple (AAPL) made history by becoming only the second company to ever surpass a $5 trillion market capitalization, [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50383,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center 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