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Apple Reclaims Title of World's Most Valuable Company from Nvidia

Apple reclaimed the title of the world's most valuable public company from Nvidia on Monday, with the iPhone maker's stock closing at a record high. Apple shares rose over 1% to reach a market capitalization of approximately $4.95 trillion, while Nvidia shares fell nearly 5% to a valuation of $4.77 trillion. Investors are increasingly skeptical of the capital-intensive artificial intelligence buildout, favoring Apple's measured approach to capital expenditures. While Nvidia has been the center of the AI boom, its valuation has compressed as investors shift focus toward return on investment. In contrast, Apple has outperformed the market by avoiding heavy capital spending, instead opting to rent capacity. Apple is scheduled to report fiscal third-quarter earnings this Thursday. This will be the final earnings call for Tim Cook as CEO before he steps down on September 1 to become executive chairman, passing the reins to John Ternus.

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