Apple Inc. has once again claimed the title of the world’s most valuable company, surpassing Nvidia Corp. on Friday. The shift comes as investors favor the stability of the iPhone maker amid growing concerns over artificial intelligence spending.
Apple’s shares dropped 1.2% on Friday, giving it a market capitalization of $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 uncertain times. Nvidia, which has seen rapid growth driven by AI demand, appears to be facing increased volatility.