Apple Reclaims Top Spot in Global Market Value
Synopsis
The iPhone maker has surpassed Nvidia in market capitalisation for the first time since April 2025 as investor sentiment shifts across the AI sector.
Apple has overtaken Nvidia to become the world's most valuable publicly traded company, ending a four-month stint at the helm of global equity markets.
Apple's market capitalization reached approximately US$4.88 trillion, narrowly above Nvidia's US$4.86 trillion after the latter's share price declined approximately 3.5% in US trading session on Friday (Saturday AEST) during the day.
The change marks Apple's first top ranking since April 2025. The positioning of the two firms has reversed in recent times after months of strong demand for artificial intelligence infrastructure companies.
Investors Broaden Focus Beyond AI Infrastructure
The update comes as part of a general review of big-cap tech stocks, not just the pair. Nvidia has been the largest supplier of high-end CPUs required to train and run the most powerful AI models in the world, and investors are harvesting gains in a sustained rally in semiconductor stocks.
Apple on the other hand generates large part of their revenues in consumer devices and services, while slowly introducing AI features in its devices, creating a more diversified business for earnings. This diversification has become an increasingly attractive value proposition in changing market sentiments.
The move is also not insignificant to local investors with an investment stake in local and global stock markets as well as to the returns for superannuants, institutional investors and exchange traded funds, many of which may invest in Apple and Nvidia directly as significant components of global investment portfolio.
Strong Financial Position Supports Apple
Apple's fiscal second quarter revenue fell slightly year-on-year, but a strong performance from the services business along with a steady product sales pace resulted in a net income of US$24.8 billion.
The company has been steadily integrating AI capabilities into its services and hardware ecosystem in addition to consumer products, even as it continues to innovate with hardware products.
Apple's iPhone sales in the first quarter of 2026 totalled 61.8 million units, representing 21.0% of the global smartphone market, according to IDC Worldwide Quarterly Mobile Phone Tracker.
Samsung remained the leader with 21.2% market share, followed by Xiaomi (11.5%), OPPO (10.5%) and vivo (7.2%).
Technology continues to evolve and adapt to changing markets, and the top two most valuable listed companies in the world along with Microsoft are now the primary players as the pursuit of AI dominance continues to play a key role in the sector's overall growth.
The updated ranking is a reflection of this dynamic market as investors evaluate business diversification in an era of rapidly shifting market conditions and technology trends.
Source: Reuters
Pooja Malik is a business journalist with over six years of experience covering startups, entrepreneurship, and emerging trends. She has previously worked with leading media platforms such as YourStory Media and BW BusinessWorld, where she reported on business, policy, and market developments. Currently, she serves as Editor at The Inspirepreneur Magazine, where she writes and edits stories across business, lifestyle, and travel, with a focus on clarity, accuracy, and reader relevance.
