Apple Overtakes Nvidia As World's Most Valuable Company

Apple Inc. reclaimed the title of the world's most valuable company on Friday, surpassing Nvidia Corp. as investors rotated into the iPhone maker amid mounting concerns over artificial intelligence spending, according to YahooStocks5.

Shares of Apple fell 1.2% on Friday, resulting in a market capitalization of $5.03 trillion. Meanwhile, Nvidia sank 4.2% to close with a valuation of $4.93 trillion. This marks the first time Apple has overtaken Nvidia since briefly doing so in late July. The broader tech selloff on Friday followed disappointing results from major technology firms including Intel Corp. and Amazon.com Inc., coming after similar reports from Alphabet Inc. and Meta Platforms Inc.

AI Spending Under Scrutiny

The weaker-than-expected earnings reports renewed market concerns regarding the long-term returns on heavy spending directed toward artificial intelligence computing infrastructure. Apple has largely foregone this level of aggressive capital expenditure, making it the best-performing Magnificent Seven tech giant this year with a 27% gain in 2026.

By contrast, aggressive AI outlays have driven free cash flow into negative territory for companies like Alphabet Inc. and Amazon.com Inc., forcing them to rely increasingly on debt markets amid rising interest rates. Meanwhile, Apple is projected to see its free cash flow climb 38% to $142 billion in fiscal 2026, which ended on September 30.

Key facts

• Apple reclaimed the title of world's most valuable company from Nvidia Corp. on Friday.
• Apple's market capitalization reached $5.03 trillion following a 1.2% share price decline.
• Nvidia closed with a valuation of $4.93 trillion after its shares sank 4.2%.
• Apple is projected to see its free cash flow climb 38% to $142 billion in fiscal 2026.