Apple ends day as world's most valuable company, passing Nvidia
Apple has reclaimed its position as the world's most valuable company, surpassing Nvidia as investors grow cautious about the high capital expenditures required for AI infrastructure. Nvidia's stock declined amid concerns over AI-related costs, while Apple's shares rose ahead of its upcoming earnings report.
Why it matters
The shift reflects a broader market pivot from pure AI-chip hype toward companies with more conservative capital spending strategies and diversified revenue streams.
Apple passed Nvidia on Monday for the title of world's most valuable company, with the iPhone maker topping the artificial intelligence chip firm at market close for the first time since April 2025.
Shares of Nvidia fell 5% on Monday, giving the chipmaker a valuation of $4.77 trillion, as AI chip stocks in general declined as investors fret about large costs related to the AI buildout.
Meanwhile, Apple shares rose 1%, giving it a market cap of $4.95 trillion, ahead of the company's highly-anticipated earnings on Thursday.
Nvidia had held the top spot as the most valuable company since June 2025, when it took the crown from Microsoft , and it briefly held a $5 trillion capitalization in October.
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