Apple Briefly Overtakes Nvidia as World's Most Valuable Company on iPhone Duo Launch Day

Apple logo over US dollar bills

Apple briefly reclaimed the title of the world's most valuable publicly traded company on Friday, overtaking Nvidia as its shares hit a new intraday record above $351. At the peak, Apple's market value stood at roughly $5.12 trillion, just ahead of Nvidia's $5.10 trillion, though the lead changed hands again later in the session.

The milestone landed on one of Apple's biggest product days of the year: the global launch of the iPhone Duo, its first foldable iPhone, priced at $1,999 and on sale in more than 70 countries and regions. It follows Apple's first close above a $5 trillion market value on October 14, and caps a run of new devices including the iPhone 18 Pro, Apple Watch Series 12 and AirPods 5. The flip also says something about the market mood. Nvidia, the chipmaker at the heart of the AI boom, has fallen about 11 percent from its October 6 record close, while Apple has gained about 4.3 percent since then - a sign some investors are rotating away from the most crowded AI trades. Nvidia first closed as the world's top company in June 2024 and has held the crown almost continuously since June 2025, but with both giants now worth around $5.1 trillion, a move of less than one percent is enough to swap the lead.

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