Apple has surpassed Nvidia to become the world's most valuable publicly traded company, reaching a market capitalization of approximately $4.88 trillion, while Nvidia fell to around $4.86 trillion following a decline in its share price.

Apple was last valued at about $4.88 trillion, while Nvidia stood near $4.86 trillion after a 3.5% drop. The move marks Apple’s return to the top spot for the first time since April last year, while Nvidia had held the crown since June 2025.

The rotation highlights growing confidence in Apple’s earnings durability and AI monetization potential through services, ecosystem lock-in, and hardware upgrades.

While Apple has reclaimed the top spot for the first time since 2025, Nvidia remains one of the biggest beneficiaries of AI demand, and analysts note the leadership could shift again as market sentiment evolves.