Apple, Nvidia compete for world's most valuable company
The total market capitalization surpassed Nvidia and regained the title of the world's largest company by market capitalization. Apple's stock price will outperform the AI chip giant in 2026. Investors are optimistic about Apple's artificial intelligence investment plan and give a valuation premium. NVIDIA surpasses Since then, it has consistently ranked first in global market capitalization. IDC Institutional View: Although Apple has raised product prices and released demand in the Chinese market ahead of schedule, its revenue in the second quarter will still maintain growth. Apple and Nvidia launched a battle for the world's most valuable market capitalization title on Friday, with the iPhone maker briefly surpassing long-time leader Nvidia in terms of market capitalization. In early trading, Nvidia's stock price fell by about 3%, and its total market value fell to US$4.84 trillion; during the same period, Apple's market value remained near US$4.88 trillion. However, the market value rankings of the two subsequently reversed again. In 2026, the stock price trends of the two companies will diverge significantly. Apple's stock price has soared 22% this year, outperforming the broader market. At present, major companies are spending huge sums of money to expand AI infrastructure. The market is optimistic about Apple's artificial intelligence layout and its light capital expenditure business model, and funds continue to pursue the stock. Apple's stock price also hit a record high this week; HSBC upgraded Apple's stock rating to "buy" on the grounds that Apple's new AI functions have been implemented and its product line has abundant reserves. HSBC Research wrote: “The AI dividend comes at the right time, and we believe Apple currently has one of the most innovative product pipelines in history.” Nvidia, on the other hand, grew only 7% during the year. The direction of Wall Street funds has changed, and market funds are focusing on the memory chips and infrastructure links in the data center construction cycle. While storage companies have benefited from this, NVIDIA's stock price performance has been relatively dull. Since Nvidia surpassed Microsoft in market capitalization in June 2025, it has secured its position as the world's largest market capitalization. In October of the same year, Nvidia became the first company in history to have a total market value exceeding US$5 trillion. Also in October 2025, relying on strong iPhone sales, Apple's market value reached the $4 trillion mark for the first time.