Apple reclaims title of world’s most valuable company, surpassing Nvidia amid dips in AI chip stocks
Apple valuation increases
Nvidia had maintained its position as the most valuable company since June 2025 after overtaking Microsoft.
In October 2025, Nvidia briefly reached a $5 trillion market cap.
In 2026, Nvidia shares have risen only 4%, whereas Apple shares have increased by 24%.
Investors have favoured Apple’s cautious capital spending approach towards AI, opting for renting capacity rather than investing in infrastructure.
As Nvidia continues to experience AI-driven sales growth, attention has shifted to memory chips and related data centre infrastructure.
This includes companies such as Micron Technology, SK Hynix, and Sandisk.
Apple is set to announce its fiscal third-quarter earnings on Thursday, which will include insights into the financial impacts of the AI-related global memory chip shortage.
This shortage previously led Apple to increase prices for its Mac and iPad products in June.
Nvidia share decline
The market is closely watching how Apple will navigate the ongoing challenges in the AI sector.
Nvidia’s declining share prices suggest investors may be cautious about the future of AI chip demand.
Analysts expect that Apple’s performance could influence market trends ahead of its earnings report.
