Apple Reclaims Title as World’s Most Valuable Company, Overtaking Nvidia

Apple has become the world’s most valuable public company once again, surpassing Nvidia as its stock climbed toward a record close on Monday.

Market Cap Shift

Apple shares rose over 1%, pushing its market value to roughly $4.94 trillion, ahead of Nvidia’s $4.83 trillion. Apple stock has gained more than 22% so far this year, outperforming other major tech peers as investors reward the company’s cautious approach to AI spending.

Restrained Spending Seen as an Advantage

Unlike rivals ramping up capital expenditures for AI infrastructure, Apple’s spending has actually declined over the past three quarters. Analysts say this discipline is now viewed positively, especially after investors reacted negatively to increased spending plans from Alphabet and Tesla, both of which saw earnings-related stock declines. Alphabet shares are up modestly this year, while Tesla has fallen sharply.

What’s Next for Apple

Apple reports earnings Thursday, its last as Tim Cook’s tenure as CEO comes to a close. Cook will transition to executive chairman on September 1, handing leadership to hardware executive John Ternus. Investors will watch closely for updates on Apple Intelligence features and whether the company can scale AI without raising costs.