Apple reach 4.90 trillion market cap Nvidia sit almost same after 2.4 percent fall.
Nvidia hold top spot since June 2025 Apple set reclaim first time since April 2025.
Apple shares beat whole Magnificent 7 this year investors look beyond pure AI chip winners.
Gap once 1.37 trillion in Nvidia favor August 2025 shrink to nothing now.
Apple avoid heavy AI spending unlike others who borrow and burn over 100 percent cash flow.
Upgraded Siri launch last month plus iPhone user data seen huge for future AI even privacy block some value.
Nvidia still power most generative AI but chip stocks fall almost 19 percent from highs in July on doubt.
Apple raise MacBook iPad prices to cover costs this move can slow demand.
Memory chip firms like Micron hit 1 trillion in May SK Hynix Nasdaq list this month AI cash spread wider.
People say tired of AI hype spend with no clear payoff Apple light model now look genius they collect from everyone. Nvidia valuation smashed because growth doubt grow fast.
Reuters main article: https://www.reuters.com/business/apple-closes-nvidia-race-worlds-most-valuable-company-2026-07-17/
Bloomberg Apple rally on AI flight: https://www.bloomberg.com/news/articles/2026-07-13/apple-s-600-billion-rally-fueled-by-traders-fleeing-ai-selloff