Apple briefly overtakes Nvidia as world's most valuable company

Published Jul 17, 08:22 PM UTC

On July 17, 2026, Apple briefly surpassed Nvidia as the world's most valuable company, with Apple's market value reaching $4.88 trillion versus Nvidia's $4.84 trillion before Nvidia closed slightly ahead. Apple has surged nearly 23% in 2026, outperforming the market as investors reward its AI spending plans and light capital expenditure model. HSBC upgraded Apple to a buy rating, citing new AI capabilities and a strong product pipeline. In contrast, Nvidia has gained only 9% as Wall Street shifts focus from AI chipmakers to companies powering the infrastructure buildout, benefiting memory stocks like Micron and Sandisk. Nvidia had held the title since June 2025 when it surpassed Microsoft, and became the first company to hit a $5 trillion market cap in October 2025.