Apple reclaims the world’s largest company title after closing at a record $336.91 on Monday, July 27, 2026. Its market value rose to about $4.93 trillion, surpassing Nvidia as chip shares fell and Apple extended its strong Nasdaq-100 outperformance.
Apple returned to the top of the global corporate rankings on Monday, July 27, 2026, overtaking Nvidia as the world’s largest publicly traded company by market capitalization.
Apple market cap reaches $4.93 trillion
Apple shares rose 1% and closed at a record $336.91, giving the iPhone maker a market value of about $4.93 trillion. Nvidia shares fell 5% to $196.51, reducing the chipmaker’s valuation to roughly $4.78 trillion.
The reversal ended Nvidia’s 272-trading-day reign at the top and moved Apple closer to the $5 trillion threshold. Market-cap estimates may vary slightly because data providers use different share-count updates, but Apple finished Monday clearly ahead.
Apple stock posts historic outperformance
Apple has gained about 24% in 2026, compared with roughly 5% for Nvidia. During July, Apple outperformed the Nasdaq-100 by about 23 percentage points, its strongest monthly relative performance against the technology-heavy index since 2005.
The rally marks a reversal from earlier concerns that Apple was falling behind in generative artificial intelligence. Investors have focused more closely on its consumer ecosystem and its ability to distribute AI features across a large device base without matching the infrastructure spending of major cloud and chip companies.
Nvidia stock falls with chip sector
Nvidia’s decline came amid wider pressure on semiconductor shares. Investors have been reassessing the cost, financing and potential returns of large AI data-center projects following a prolonged surge in chip valuations.
Growing Chinese semiconductor competition also weighed on the sector. Nvidia nevertheless remains a leading supplier of processors used to train and operate generative-AI systems, so the market-cap change does not diminish its importance to the industry.
Earnings could reshape the ranking
The leadership position could change quickly because it depends on daily share prices. Apple must show that device demand, services growth and its AI strategy can support its valuation, while Nvidia must demonstrate that continued AI investment will generate durable chip demand.
Upcoming earnings and spending forecasts from major technology companies will help determine whether investors continue favoring Apple’s consumer-focused model or return to the semiconductor-led AI trade.
