FX.co ★ Apple reclaims title of world’s most valuable company, overtaking Nvidia

Apple has retaken the crown as the world’s most valuable publicly traded company, surpassing chip‑and‑GPU maker Nvidia by market capitalization. Bloomberg data shows that by the end of October, the iPhone maker’s market value reached about $5.03 trillion, while Nvidia’s valuation adjusted to roughly $4.93 trillion. Apple briefly reclaimed the top spot in late July and then spent roughly three months battling for supremacy before regaining the lead.

The leadership change came amid a broad sell‑off in US technology stocks in late October. Pressure on equity prices intensified after disappointing earnings reports from industry heavyweights, including Intel, Amazon, Alphabet, and Meta. Analysts say the rout in high‑tech names has been largely driven by rising corporate leverage and aggressive borrowing to fund massive build‑outs of AI infrastructure.

Waning confidence in the near‑term payoff from huge AI investments has amplified investor scepticism after a series of weak quarterly prints. Against that backdrop, Apple’s relatively conservative strategy has looked attractive: while management has signaled support for AI development, the company has largely refrained from committing to the same scale of risky, expensive infrastructure spending seen at some peers. That prudence has helped position Apple’s shares as a more defensive tech asset in the eyes of many investors.