Behind $5T Market Caps: Two Future Narratives for Apple and Nvidia

When a company's market cap approaches $5 trillion, what exactly is it selling? Products, an ecosystem, or some kind of collective human faith in the future? On July 27th, Apple's stock hit a new high, reaching a market cap of $4.95 trillion, surpassing Nvidia again to reclaim the top spot globally by market value. The number itself is staggering enough, but what's more worth questioning is: why is the market betting back on a core consumer hardware company right when the AI wave is at its peak?