Apple Closes In on Nvidia for Largest U.S. Company Crown
Apple is surging while Nvidia's valuation hits lows not seen since 2013, flipping the AI-trade narrative on its head.
The throne is up for grabs. Apple is closing in fast on Nvidia in the race for the title of largest U.S. company by market cap, and the momentum couldn't be more lopsided right now. Apple shares keep grinding higher while Nvidia's valuation has collapsed to levels the chip giant hasn't seen since 2013.
Think about that for a second. Nvidia was *the* AI trade. It was untouchable. Jensen Huang's company rode the generative-AI wave to historic highs, briefly wearing the crown of the world's most valuable public company. Now that crown is wobbling — and Apple is the one doing the shaking.
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This isn't just a feel-good story for Apple bulls. It's a signal. When the market's favorite momentum darling starts losing ground to a hardware-and-services company known more for iPhones than inference chips, traders need to pay attention to what that rotation is telling them about risk appetite, AI valuations, and where the smart money is heading.
Nvidia's compression isn't just a bad week — pulling back to valuation multiples last seen over a decade ago is a structural reset. Meanwhile, Apple's steady climb suggests investors are rotating toward cash-flow reliability over speculative AI upside. That's a defensive tilt you can't ignore if you're managing a portfolio right now.
The next few sessions will be critical. Watch whether Apple actually reclaims the top spot and whether Nvidia finds a floor. This battle between the old-guard tech giant and the AI darling is the clearest real-time read on where the market's head is at. Continue reading at MarketWatch.com
