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Apple overtakes Nvidia as world's most valuable public company
Apple shares rose more than 1% to about a $4.94 trillion market cap, while Nvidia was valued at about $4.83 trillion.
Apple reclaimed the title of the world’s most valuable public company from Nvidia, with its stock moving toward a record-high close on Monday. Yahoo Finance data showed Apple shares up over 1%, lifting market capitalization to roughly $4.94 trillion, compared with Nvidia’s $4.83 trillion. Yahoo Finance said the move was tied to how investors are viewing Apple’s approach to AI spending. The outlet cited Apple’s stock gaining more than 22% year to date and characterized its restrained capital expenditure as a potential advantage, rather than a weakness, with a market strategist describing it as avoiding capex pitfalls.
According to Yahoo Finance, Apple’s capital spending has declined over the past three quarters based on AlphaSpace data, contrasting with Alphabet, which recently raised its capital spending outlook to support AI infrastructure build-outs. The outlet also noted Tesla has increased spending tied to its robotaxi and robotics plans, after both Alphabet and Tesla saw shares fall following their earnings reports.
Looking ahead, Apple is set to report earnings Thursday after the closing bell, according to Yahoo Finance. Investors will be watching for signs that Apple Intelligence can scale on devices without higher capital spending or pressure on operating margins, and the report will be the final earnings call for Tim Cook as CEO before he steps down on Sept. 1 to become executive chairman and hand leadership to John Ternus.