For the first time since April 2025, Apple has surpassed Nvidia to become the most valued business in the world at market close.
Since it overtook Microsoft as the most valued firm in June 2025, Nvidia has maintained this position.
Nvidia’s shares dropped 5% on Monday, bringing the chipmaker’s valuation down to $4.77 trillion. AI chip stocks generally plummeted as investors worried about the high expenses associated with the AI buildout.
Ahead of the company’s much-awaited earnings on Thursday, Apple shares increased 1%, bringing its market capitalization to $4.95 trillion.
Since overtaking Microsoft in June 2025, Nvidia has been the most valuable firm. In October, it temporarily achieved a $5 trillion value.
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Apple’s stock has increased by 24% so far in 2026, while Nvidia’s has only increased by 4%. Apple has now outperformed the market as a result of investors rewarding its unwillingness to make significant capital expenditures for AI by choosing to rent capacity rather than construct its own.
The iPhone manufacturer is anticipated to disclose for the first time some of the financial effects of the AI-driven worldwide memory chip scarcity, which compelled the company to boost Mac and iPad pricing in June, in its fiscal third-quarter earnings on Thursday.