Apple Inc. has reclaimed its position as the world’s most valuable company, surpassing Nvidia Corp. on Friday. The shift comes as investors prioritize the stability of the iPhone maker amid growing concerns over artificial intelligence spending.
Apple’s shares dropped 1.2% on Friday, bringing its market capitalization to $5.03 trillion. Meanwhile, Nvidia’s stock fell 4.2%, closing with a valuation of $4.93 trillion. This marks the first time Apple has overtaken Nvidia since a brief period in late July.
The move highlights a shift in investor sentiment, with Apple benefiting from its reputation as a safer bet in a volatile market. Nvidia, which has been a leader in AI-driven growth, saw its valuation dip as concerns about tech spending weighed on its stock.