Apple regains title as world’s most valuable company, overtaking Nvidia
On July 17, 2026 Apple’s market capitalization rose to roughly $4.9 trillion, pushing it ahead of Nvidia’s approximately $4.84 trillion and restoring Apple to the position of the world’s most valuable publicly listed company. The shift followed a 4 % drop in Nvidia shares as investors reassessed the AI‑chip frenzy and turned to Apple’s broader ecosystem, lighter capital spending and emerging AI services.
Apple’s stock hit all‑time records, closing at $333.26 and reaching an intraday high of $334.68. Analysts upgraded their outlooks, with HSBC raising its 12‑month target to $366 and other firms setting targets between $300 and $329. The market rotation moved capital from AI‑chip‑heavy names to diversified tech, citing Apple’s AI initiative “Apple Intelligence,” recently cleared in China, and partnerships with Alibaba and Baidu. Apple also hinted at AI‑chip acquisitions and a major Siri upgrade, while a foldable iPhone is slated for 2027.
Nvidia, which had led the market cap rankings since June 2025, faced pressure from a slowdown in AI‑chip enthusiasm and competition from newer, cheaper Chinese AI models, contributing to its valuation decline. The episode highlights how investor sentiment can rapidly shift from niche AI hardware bets to broader tech giants with resilient profit models.