2 companies to hit $5 trillion market cap in 2026

Core Insights - Nvidia and Apple are the leading candidates to reach or revisit a $5 trillion market capitalization by 2026, with Nvidia currently valued at approximately $4.37 trillion and Apple at around $4.21 trillion [1] Nvidia - Nvidia briefly crossed the $5 trillion mark in intraday trading in late October 2025, driven by the demand for its data-center GPUs amid the AI boom [2] - The company's quarterly revenue surged due to cloud providers and AI start-ups, with management forecasting continued strong growth as hyperscalers expand AI capital expenditures [2] - Analyst sentiment is overwhelmingly positive, with 39 out of 41 analysts rating Nvidia as Buy, resulting in a Strong Buy consensus and an average 12-month price target of $258.10, indicating a potential upside of about 44% from the current price of $179.59 [3] Risks for Nvidia - The path to a sustained $5 trillion valuation is not without risks, as Nvidia's market cap reflects high expectations for long-term AI demand, raising concerns about a potential AI-driven bubble [4] - Factors such as a slowdown in data-center spending, regulatory constraints on advanced chips, or increased competition could negatively impact sentiment [4] Apple - Apple has not yet reached the $5 trillion market cap but reported record September-quarter revenue of approximately $102.5 billion, an 8% year-over-year increase, with double-digit growth in earnings per share [5] - The services segment is now Apple's main growth driver, generating over $28 billion in quarterly revenue and exceeding $100 billion for the fiscal year, supported by high-margin products like iCloud and the App Store [6] - Wall Street's view on Apple is more cautious, with 21 out of 35 analysts rating it as Buy, leading to a Moderate Buy consensus and an average 12-month price target of $289.49, reflecting only a slight upside from the current price of $284.15 [7] Challenges for Apple - The modest implied upside for Apple is attributed to its large size and concerns over maturing hardware sales, despite rapid service expansion [8] - To achieve a $5 trillion valuation, Apple would need continued growth in services, successful integration of AI features, and aggressive share repurchases to reduce share count [8] Conclusion - The explosive AI-driven growth of Nvidia and the durable cash generation and services transition of Apple position them as frontrunners to reach or reclaim a $5 trillion market cap by 2026 [9]