Apple overtakes Nvidia as the world's most valuable company with a market value of about $4.94 trillion

Apple reclaimed the title of the world's most valuable public company on Monday 27 July 2026. Its shares rose more than 1 percent, lifting its market capitalisation to roughly $4.94 trillion against Nvidia's $4.83 trillion by the close of the same day.

The switch reflects a shift in investor sentiment toward companies with restrained AI capital spending. Apple stock is up more than 22 percent so far in 2026, the best performer among the seven largest US technology companies, while its capital expenditure has declined over the past three quarters rather than risen.

The change of places came alongside a selloff in chip stocks that knocked Nvidia down nearly 5 percent in the same session. Apple is due to report earnings later this week.