Updated
Updated · CNBC · Jul 17
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.

Insights

With revenue soaring, why is Wall Street hesitating on Nvidia, and what could trigger its next rally?
Can software breakthroughs disrupt the trillion-dollar AI hardware boom before it even peaks?
As giants like OpenAI build their own AI chips, is Nvidia's era of market dominance quietly ending?