apple passed Nvidia On Monday, the iPhone maker surpassed the artificial intelligence chip company in market closing price for the first time since April 2025, taking the title of the world’s most valuable company.
Nvidia stock fell 5% on Monday, valuing the chip maker at $4.77 trillion, as investors worried about the high costs associated with building AI and AI chip stocks fell overall.
Meanwhile, Apple shares rose 1%, giving the company a market capitalization of $4.95 trillion, beating the company’s expected results on Thursday.
Nvidia has held the top spot as the most valuable company since taking the crown from Microsoft in June 2025, briefly holding $5 trillion in capital in October.
So far in 2026, Nvidia’s stock is up only 4%, while Apple’s is up 24%. Apple has outperformed the market as investors’ reluctance to spend heavily on AI capital expenditures, preferring to rent capacity instead of building it themselves, has paid off.
Nvidia’s revenue is now in its third year of significant AI-driven growth, but many investors are switching their focus from AI chips, called graphics processing units, to memory chips and other data center infrastructure that will benefit from the AI boom. micron technologySK Hynix, sandisk.
Apple is scheduled to report third-quarter earnings on Thursday, in which the iPhone maker is expected to reveal for the first time some of the financial impact of the AI-driven global memory chip shortage that forced the company to raise prices for Macs and iPads in June.
Apple and Nvidia stock price charts.
