Apple briefly surpassed Nvidia as the world's most valuable company on July 17, touching about $4.88 trillion as Nvidia shares slipped roughly 3% to a market value near $4.84 trillion during an AI-chip selloff, before Nvidia edged back ahead by the close. It marked the first time in more than a year that Apple held the top spot, which Nvidia had claimed since June 2025. Investors have rewarded Apple's lighter capital-spending approach - its stock is up about 23% in 2026 - even as megacap AI names cooled.
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