Apple has regained its position as the world’s most valuable publicly traded company after ending the trading day with a market capitalisation of about $4.93 trillion, surpassing Nvidia, whose value fell to roughly $4.78 trillion following a sharp decline in its share price.
The change came after Apple shares climbed around 1% to a record high, while Nvidia’s stock dropped by about 5% amid growing investor concerns over heavy spending on artificial intelligence infrastructure and uncertainty about future returns.
Nvidia had held the top spot since 2025, driven by the global AI boom and soaring demand for its advanced chips.
However, recent reports suggesting the company could provide financial backing for massive AI data centre projects raised concerns among investors, triggering a sell-off in its shares.
Apple, meanwhile, has benefited from strong iPhone sales, steady growth in its services business and a more cautious approach to AI investment. The company’s shares have gained more than 20% this year, reflecting renewed investor confidence in its long-term strategy.
Market analysts say the latest shift highlights changing investor sentiment, with many moving away from high-spending AI companies toward firms with stable earnings and diversified businesses. Although Apple has reclaimed the crown, analysts note that the rankings could change again as the market continues to fluctuate.
