Apple Tops Nvidia at $4.88 Trillion as HSBC Lifts Target to $366
Updated
Updated · CNBC · Jul 17
Apple Tops Nvidia at $4.88 Trillion as HSBC Lifts Target to $366
3 articles · Updated · CNBC · Jul 17
Summary
Apple briefly overtook Nvidia again on Friday, reclaiming the title of world’s most valuable company as its shares hit a record high after a sharp two-week run.
HSBC upgraded Apple to buy and raised its price target to $366 from $260, citing a revamped Apple Intelligence platform, new AI features and an expected iPhone upgrade cycle.
China’s approval of Apple Intelligence on devices added another catalyst by widening access to features that could push users toward newer iPhones.
The move stood out against a broader tech selloff: semiconductor shares slid on renewed AI-spending worries, and the VanEck Semiconductor ETF briefly fell 20% from its recent high before recovering.