Apple tops Nvidia in market value as AI trade broadens
What's new: Apple hovered near a $4.88 trillion valuation while Nvidia slid about 3%, narrowing the chipmaker's yearlong lead.
Apple overtook Nvidia on July 17 to briefly become the world's most valuable company, a shift that showed investors widening their AI bets beyond the dominant chipmaker. Apple was valued around $4.88 trillion as its shares held steady, while Nvidia fell roughly 3% to about $4.84 trillion to $4.86 trillion in trading cited by the reports. Nvidia had held the top spot since June 2025 and became the first company to cross a $5 trillion market capitalization in October. Apple has climbed 22% in 2026, helped by optimism over its AI strategy, lighter capital-spending model and a stronger product pipeline, while Nvidia has gained about 7% this year.