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Ulviyya Poladova

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Apple has overtaken Nvidia to become the world's most valuable publicly traded company by market capitalization, AzerNEWS reports, citing Bloomberg.

On July 17, Nvidia's shares fell 3.7%, reducing the chipmaker's market value to approximately $4.8 trillion.

Meanwhile, Apple's stock rose 0.4%, lifting the company's market capitalization to around $4.9 trillion and allowing it to reclaim the top position.

Nvidia had held the title of the world's most valuable public company by market value since May 2025. In October last year, the company's market capitalization reached the $5 trillion mark, setting a new milestone for the semiconductor giant.

The change at the top came as Nvidia shares extended their decline amid a broader selloff in semiconductor and other companies that have been among the main beneficiaries of the AI investment boom.

Investors have grown increasingly concerned about whether the hundreds of billions of dollars being spent on AI infrastructure and data centers will generate returns quickly enough to justify elevated technology-sector valuations.

Nvidia has lost roughly $1 trillion in market value since its shares peaked in mid-May, with the stock falling about 16% by early July.