Apple reclaims world's largest company crown as Nvidia tumbles in AI rout

The market-cap flip signals a sharp rotation away from pure-play semiconductor exposure, with Apple shares hitting a record $337 while chip stocks face heavy selling pressure.

By Handelsavisen Newsroom · Automated 2026-07-18 07:35 UTC · 1 min read

Apple has regained its position as the world’s most valuable publicly traded company, overtaking Nvidia in Friday’s trading session.

The milestone marks a decisive shift in the technology sector’s leadership, driven by a broad-based selloff in stocks linked to the artificial intelligence boom.

While the semiconductor index faced steep declines, Apple shares edged higher to reach a record high of $337 in early New York trading.

While the semiconductor index faced steep declines, Apple shares edged higher to reach a record high of $337 in early New York trading.

The divergence highlights a growing investor preference for diversified tech giants over concentrated AI hardware plays, as concerns over valuation and demand sustainability weigh on chipmakers.

The reversal ends Nvidia’s brief reign at the top of the global market-cap rankings.

The chipmaker’s decline reflects broader pressure on the semiconductor sector, where investors are reassessing the pace of AI infrastructure spending.