AAPL Stock Rises 3% as Apple Overtakes Nvidia as World’s Most Valuable Company

AAPL stock rose about 3% on Monday as Apple overtook Nvidia to become the world’s most valuable public company. The move pushed Apple’s market value to roughly $4.94 trillion, while Nvidia stood near $4.83 trillion.

Apple shares traded around $336.27 during the session and moved toward a record-high close. The iPhone maker has gained more than 22% this year, outperforming other major technology stocks.

Apple Regains Top Market Value From Nvidia

Apple reclaimed the top market value ranking as Nvidia faced another round of selling. Nvidia shares fell about 5% on Monday, extending a volatile period for chipmakers and AI-linked stocks.

The latest pressure on Nvidia followed reports of possible financing talks tied to OpenAI data centers. Investors have grown more cautious about heavy AI infrastructure spending and circular deal structures across the sector.

Source: X

Apple moved in the opposite direction as investors rewarded its lower spending profile. Yahoo Finance AlphaSpace data showed Apple’s capital expenditures declined over the past three quarters.

Jay Woods, chief market strategist at Freedom Capital Markets, said Apple had avoided spending concerns facing rivals. He said, “Once criticized for not spending more on AI, they have been able to avoid some of those capex pitfalls.”

Apple’s gain also placed the company ahead of the broader Magnificent Seven group this year. Nvidia had led much of the AI trade before recent pressure hit chipmakers.

The shift reflected a market preference for cash discipline during a busy technology earnings week. Traders also watched whether Apple could hold the top spot after Thursday’s report.

AI Spending Gap Helps AAPL Stock

Apple has taken a measured approach to artificial intelligence spending compared with several large peers. The company has focused on adding Apple Intelligence features to devices without raising infrastructure spending sharply.

Alphabet recently raised its capital spending outlook to support AI infrastructure, while Tesla increased spending for robotaxi and robotics work. Shares of both companies fell after their earnings reports.

Alphabet stock remains up about 3% this year, while Tesla has fallen roughly 30%. Those moves added to investor focus on whether AI spending can support returns without reducing margins.

Microsoft, Amazon, and Meta will report earnings this week and may discuss further AI-related spending. Their updates could shape investor views on the broader technology sector after Apple’s latest move.

Chip stocks also faced pressure after investors reacted to a new Chinese AI model earlier this month. Some traders compared the event with a “DeepSeek moment” for the sector.

That backdrop helped Apple’s slower AI buildout appear less risky to some investors. The company still faces questions about product speed, model quality, and feature adoption.

Earnings, Products and CEO Transition Draw Attention

In the meantime, Apple will report quarterly earnings after the closing bell on Thursday, July 30, this week. Wall Street expects earnings of $1.88 per share on revenue of $108.75 billion.

Investors will monitor whether Apple can expand Apple Intelligence without higher capital costs or margin pressure. The company’s ability to add AI features across devices remains central to the earnings discussion.

Thursday’s call will also mark Tim Cook’s final earnings call as chief executive. Cook will step down on September 1 and become executive chairman.

John Ternus, a veteran Apple hardware engineering leader, will become chief executive after Cook’s transition. Concurrently, Apple’s product pipeline also remains part of the earnings discussion. The company is preparing smart glasses with a strong focus on privacy, including limits on facial recognition and continuous cloud logging before a possible unveiling next June.

In addition, it is expanding AppleCare One to Australia, France, Germany, and the United Kingdom. The multi-device plan adds another services layer as Apple works to grow recurring revenue beyond hardware sales.

Together, the product and services updates give investors more areas to watch beyond the latest stock rally. AAPL stock now enters earnings week as the world’s most valuable public company, while markets continue to question the rising cost of AI spending across the technology sector.