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Apple Overtakes Nvidia as the World's Most Valuable Public Company

Apple's market value reached $5.11 trillion, passing Nvidia's $5.09 trillion according to Google Finance, as its record high follows strong demand for the foldable iPhone.

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what happened

Apple shares hit a fresh record on Friday, and the company moved ahead of Nvidia in market capitalization. According to Google Finance, Apple's value stood at $5.11 trillion against $5.09 trillion for Nvidia. The first foldable iPhone, the Duo priced from $1,999, went on sale worldwide and drew strong pre-orders.

Apple said pre-orders were extraordinary, and deliveries for many buyers now stretch into late January. Greg Joswiak, Senior Vice President of Worldwide Marketing, told CNBC that the company is following a normal production ramp. Morgan Stanley's supply-chain checks point to about 6.5 million Duo units in the second half of the year.

IDC expects Apple to capture 44% of the global foldable market by value and 31% by units in 2026, becoming the leader in both by 2027.

why it matters

Apple's higher market value increases its weight in major indexes and the technology sector, which matters for funds tracking broad benchmarks. Its fiscal fourth-quarter report on November 2 will bring the December-quarter outlook into focus, though it will not include Duo sales.

market impact

AAPL and tech sector: higher market value and Duo demand increase the company's weight in indexes

tags

StockUnited States

instruments

AAPLNVDANasdaqTechnology Select Sector SPDR

sources

  1. Apple Overtakes Nvidia As World's Most Valuable Company — iPhone Duo Hits Stores Amid Strong Demand — Stocktwits, 23 October 2026 at 14:09 UTC

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