Apple Dethrones Nvidia as Most Valuable Company Amid AI Optimism and Acquisition Deals

Apple (AAPL) has surpassed Nvidia (NVDA) to become the world's most valuable publicly traded company, reaching a market capitalization of $4.95 trillion.

The tech giant overtook its rival after touching a record high of $339.57, with investors optimistic about Apple's expanding artificial intelligence offerings and new iPhone models.

Forte Biosciences (FBRX) shares also surged to a four-year high of $76.60 following an announcement that the company will be acquired by Argenx SE for approximately $2.2 billion in cash, with shareholders set to receive $77 per share.

Raytheon Technologies (RTX) stock reached an all-time high of $220.39 after reporting stronger-than-expected second-quarter results and raising its full-year outlook.