Apple Surpasses Nvidia to Become World's Most Valuable Company
On Monday, Apple surpassed Nvidia for the title of the world’s most valuable company with a market capitalization of $4.95 trillion at market close. This marked the first time since April 2025 that Apple has reclaimed this position from the AI chipmaker, which had held it since June 2025 after taking over from Microsoft. Nvidia’s valuation dropped to $4.77 trillion as its shares fell by 5%, reflecting broader declines in AI chip stocks due to investor concerns about rising costs associated with large-scale AI infrastructure spending. In contrast, Apple's stock rose 1% and has outperformed the market this year, gaining 24%. Investors are favoring Apple’s strategy of renting rather than building its own AI capacity. Apple is set to report earnings on Thursday, where it may provide insights into how a global memory chip shortage—driven by AI demand—impacted pricing for Mac and iPad products. Meanwhile, investors have shifted attention from GPUs like those made by Nvidia toward other data center infrastructure components.
Topics: AI Spending Apple Market Cap Nvidia