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Apple overtakes Nvidia as world's most valuable company amid AI chip stock decline

Market News
27 Jul 2026
CNBC
View Source
Bullish
pluang ai news

Apple surpassed Nvidia to become the world's most valuable company for the first time since April 2025, with a market cap of $4.95 trillion compared to Nvidia's $4.77 trillion. Nvidia's shares fell 5% due to investor concerns over high AI-related costs, while Apple’s shares rose 1% ahead of its upcoming earnings report. Nvidia had held the top spot since June 2025 and briefly reached a $5 trillion valuation in October. Apple's more cautious approach to AI spending, favoring renting capacity over heavy capital expenditures, has helped it outperform Nvidia and the broader market so far in 2026. Apple is expected to discuss the financial impact of the global AI-driven memory chip shortage in its upcoming earnings, which has led to price increases for some products.

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