Apple Retakes No. 1 Valuation at $4.88 Trillion as Nvidia Slips 3%
Updated
Updated · CNBC · Jul 17
Apple Retakes No. 1 Valuation at $4.88 Trillion as Nvidia Slips 3%
3 articles · Updated · CNBC · Jul 17
Summary
$4.88 trillion put Apple back atop global market values on Friday, edging past Nvidia after the chipmaker’s early trading decline.
More than 3% off Nvidia shares cut its market value to $4.84 trillion, while Apple’s stock strength extended a sharp divergence between the two companies in 2026.
22% this year for Apple versus about 7% for Nvidia reflects a broader Wall Street rotation away from AI chip leaders toward memory chips and datacenter infrastructure.
Nvidia had surged after ChatGPT’s launch, but 2026 trading suggests investors are shifting to the next phase of the AI buildout.