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Nvidia retakes top spot from Apple as AI demand boosts its market value on Election Day

Market News
04 Nov 2026, 14:37 WIB
24/7 Wall Street
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Bullish
Nvidia retakes top spot from Apple as AI demand boosts its market value on Election Day

On Election Day, Nvidia regained its position as the world's most valuable company, surpassing Apple with a market value of $4.99 trillion compared to Apple's $4.84 trillion. This shift is driven by strong AI demand, which has increased memory prices, squeezing Apple's profit margins. Nvidia's data center revenue surged 117%, supporting its growth story, while Apple faces margin pressures from rising costs and tariff changes. Nvidia's upcoming fiscal report on November 17 will be crucial in determining if it maintains the lead.

As of Nov 04, 2026 19:22 WIB, Nvidia trades at USD 206.37 with a slight 1-day decline of 0.15% on Pluang, holding a market cap of $4.99 trillion, just ahead of Apple. Meanwhile, Apple shares rose 1.01% to USD 335.24, with a market cap of $4.84 trillion. Nvidia's lead in market value is reflected in its enterprise value of $4.97 trillion, while Apple’s enterprise value stands at $4.87 trillion.

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