Apple regains top spot as world’s most valuable company

What the report says

Al Jazeera, citing Reuters, reported that Apple has again become the world’s most valuable company, reaching a market valuation of $4.88 trillion and moving ahead of Nvidia at $4.86 trillion. The shift followed a 3.5 percent fall in Nvidia’s market value and put the Cupertino, California-based iPhone maker back in the top position for the first time in more than a year.

The report links the move to changing investor views around artificial intelligence. Nvidia had previously benefited from demand for AI chips and passed a $5 trillion valuation in October, but Al Jazeera said market pressure has increased as competition in semiconductors broadens. The article noted Micron’s reported move past a $1 trillion valuation in May and SK Hynix’s Nasdaq listing as examples of rivals drawing attention in the sector.

Apple’s gains come as the company promotes a refreshed Siri AI assistant, which Al Jazeera said was unveiled last month and is intended to better use personal context, web information and task automation. Analysts cited in the report said investors may now see Apple’s comparatively lower AI infrastructure spending as a potential advantage if the company can translate consumer AI features into revenue.

The development lands ahead of Apple’s third-quarter earnings, scheduled for July 30, after executives forecast 14 percent to 17 percent sales growth in the prior quarter. Al Jazeera also reported that CEO Tim Cook is expected to hand leadership to hardware engineering chief John Ternus in September. Broader markets were weaker during the session, with major US indexes down in midday trading.