Apple retakes top market cap spot as Nvidia drops 4.2%
What's new: Apple closed at a $5.03 trillion valuation, ahead of Nvidia's $4.93 trillion as AI spending fears rattled tech stocks.
Apple regained its position as the world’s most valuable company on Friday after a broad tech sell-off pushed Nvidia lower. Apple shares fell 1.2% but still ended with a market value of $5.03 trillion, while Nvidia dropped 4.2% to $4.93 trillion. The shift came as weak results from major technology companies including Intel, Amazon, Alphabet and Meta revived investor concerns that huge AI infrastructure spending may not deliver adequate returns. Apple has largely avoided that spending wave, helping make it a relative safe haven. Its stock is up 27% in 2026, more than twice Nvidia’s gain, while the Nasdaq 100 posted its worst month since March 2025.