Apple overtook Nvidia on Friday to become the world's most valuable publicly traded company. Apple’s market capitalization reached approximately $4.9 trillion. Nvidia’s market value fell to $4.84 trillion following selling pressure on artificial intelligence stocks. The shift occurred during a broader selloff in semiconductor companies previously boosted by the AI investment boom.
Nvidia’s market value has declined by approximately $1 trillion since its peak. This peak occurred in mid-May before the current rotation. The chipmaker's stock price dropped roughly 16% during this period. This decline was recorded by early July. Investors expressed concern regarding the speed of returns on significant AI infrastructure investments. This rotation in mega-cap leadership reflects growing doubts about the priced-in upside for AI-related valuations.