Apple ends day as world's most valuable company, passing Nvidia

Apple overtook Nvidia to become the world’s most valuable company at Monday’s close, as Nvidia shares fell 5% amid broader weakness in AI chip stocks and investor concern about the cost of AI infrastructure buildout. Nvidia’s market cap dropped to $4.77 trillion while Apple rose 1% to $4.95 trillion. The move highlights a shift in investor preference away from capital-intensive AI chip leaders toward companies seen as better insulated from heavy AI spending. Apple has outperformed Nvidia in 2026, helped by its more cautious AI capex approach. The article also notes that investors are increasingly favoring other AI beneficiaries such as memory and data-center infrastructure names. Apple is set to report fiscal third-quarter earnings Thursday, which could shed light on the impact of the AI-driven memory chip shortage and related price increases.