Apple Overtakes Nvidia to Reclaim No. 1 Market Cap as Shares Rise 22%
Updated
Updated · The Motley Fool · Jul 22
Apple Overtakes Nvidia to Reclaim No. 1 Market Cap as Shares Rise 22%
3 articles · Updated · The Motley Fool · Jul 22
Summary
July 17 marked Apple’s return to the top spot by market value, overtaking Nvidia after Apple shares climbed more than 22% this year.
34 times forward fiscal 2027 earnings now values Apple at its richest level in years, even as higher device and service prices risk slowing upgrade cycles.
More than 90% of respondents in a 9to5Mac poll said higher prices would affect buying habits, and nearly 40% said they would upgrade less often.
16 times forward fiscal 2028 earnings leaves Nvidia looking cheaper, with demand for its AI chips, networking gear and inference offerings still supported by heavy hyperscaler spending.
More than $20 billion from Apple’s Google search deal still underpins profit, but the broader investor debate is shifting toward whether Nvidia’s AI growth can outlast Apple’s valuation surge.