Apple briefly surpassed a $5 trillion market valuation on Wednesday, marking a rare achievement that places it alongside Nvidia as the only two publicly traded companies to reach this milestone. The milestone reflects a broader recovery in major technology stocks following a recent sell-off driven by investor concerns over heavy investments in artificial intelligence and increased competition from China.

Shares of Apple, the maker of the iPhone, closed up $3.17, or 0.9 percent, at $340.08, giving the company a market capitalization of approximately $4.99 trillion. Nvidia, which experienced a 5 percent drop earlier in the week, rebounded with a gain of $0.82, or 0.4 percent, closing at $197.33, valued at $4.77 trillion.

Nvidia’s stock volatility sowed unease among investors in the Asia-Pacific region, contributing to a sharp decline in South Korea’s Kospi index. The benchmark index fell more than 10 percent to a three-month low on Wednesday, with major chip manufacturers SK Hynix and Samsung among the largest decliners. The dramatic drop triggered a "circuit breaker" trading halt, as the Kospi faced the prospect of its worst monthly loss on record.

Equity analyst Jing Jie Yu of Morningstar attributed the market turbulence partly to concerns over China’s advancements in chipmaking-equipment technology, which investors fear could undermine the global positions of established chip and equipment companies. However, Yu characterized the sell-off as an “overdone” and largely “knee-jerk” reaction.

On Wall Street, following a weak start, several leading technology firms regained momentum. Microsoft, which is scheduled to release its quarterly earnings report later in the day, rose $5.16, or 1.3 percent, to close at $394.26. SpaceX, the aerospace company led by Elon Musk, also saw its shares increase by $2.91, or 2.6 percent, to $116.41, although its stock price remains below the initial public offering valuation of $135.

The rebound among large technology stocks underscores continued investor interest in the sector despite persistent uncertainties around international competition and the long-term impact of AI spending.