Apple Has Regained Its Status As The World's Most Valuable Company
- 31.10.2026, 15:21
The corporation has dethroned Nvidia.
Apple Inc. has regained its title as the world's most valuable company, displacing Nvidia Corp. from that position. Investors, concerned about spending on artificial intelligence, chose to invest in the iPhone maker, which is seen as a more reliable asset, according to Bloomberg.
Apple’s stock fell 1.2% on Friday, bringing the company’s market capitalization to $5.03 trillion. Nvidia shares fell 4.2%, and its market capitalization reached $4.93 trillion at the close of trading. Apple managed to overtake Nvidia for the first time since late July, when it had briefly held the top spot.
Friday’s sell-off was triggered by disappointing financial results from a number of major tech companies, including Intel Corp. and Amazon.com Inc. Earlier, Alphabet Inc. and other corporations also reported weak earnings. These results heightened concerns about the prospects for investments in artificial intelligence—an area in which Apple is investing less than other big tech companies.
Concerns that massive investments in AI infrastructure might not pay off have allowed Apple—a company that keeps capital expenditures in check—to emerge as the leader among the “Magnificent Seven” (Magnificent Seven) tech giants. Since the beginning of 2026, Apple’s stock has risen 27%, more than double the performance of Nvidia, which ranks second and is one of the main beneficiaries of AI investments.
Expenses have become so significant that companies such as Alphabet Inc. and Amazon.com Inc. have seen their free cash flow turn negative, forcing them to increasingly rely on borrowed funds. At the same time, rising interest rates are increasing the cost of servicing debt.
In contrast, Apple’s free cash flow is projected to grow by 38% to $142 billion in fiscal year 2026 (ending September 30).
The Nasdaq 100 Index, which includes the largest technology companies, fell 6.7% in October, marking its worst performance since March 2025. Shares of CoreWeave Inc. and Nebius Group, which own data centers and provide computing power for AI, fell by more than 30% this month. Following Friday’s plunge, Intel’s stock lost more than 45% of its value in October—the sharpest one-month decline in the history of Bloomberg’s records, which date back more than 40 years.
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