Apple trails Nvidia by $42 billion after closing at record $5.082 trillion valuation

Apple's market capitalization reached $5.082 trillion following a record share close of $348.22, trailing Nvidia's $5.124 trillion valuation by approximately $42 billion. Nvidia's lead narrowed from $903 billion earlier in the month following a 4.40% decline to $212.21, pressured by semiconductor selloffs over artificial intelligence infrastructure spending. Meanwhile, Apple has advanced 28.44% year-to-date, aided by strong consumer product demand and foldable iPhone Duo sellouts. Apple needs an estimated 0.83% gain, or roughly $351.10 per share, to overtake Nvidia, with market leadership poised to test fiscal fourth-quarter earnings scheduled for November 2.