Apple overtakes Nvidia as the world’s most valuable company for the first time after more than a year; how AI is the reason for Apple’s gain and Nvidia’s ‘loss’
Apple overtook Nvidia on Friday (July 17) to reclaim its crown as the world’s most valuable public company. The milestone marks the first time Apple has held the number-one spot since April of last year, signaling a significant shift in how Wall Street is betting on the future of artificial intelligence (AI). The major reshuffling at the top of the global tech ladder comes as Nvidia’s slide below Apple due to a broader, industry-wide reality check.
By the close of Friday’s trading session, Apple’s market valuation held steady at a staggering $4.88 trillion. Meanwhile, Nvidia’s valuation slid to roughly $4.86 trillion following a sharp 3.5% single-day decline in its stock price, as per news agency Reuters.
