Apple vs. Nvidia: Which will end 2026 as "world's most valuable company"?



It's not just Spain and Argentina who are battling for a global crown.

There's another red-hot battle at the top happening in US stock markets.

Apple and Nvidia are now trying to outdo each other to become the world's most valuable company!



Earlier today (Friday, July 17th), Apple briefly pipped Nvidia to become the world's most valuable company.

Nvidia has laid claim to that title since May 2025.



How much are they valued now?

At the time of writing:

• Nvidia's market cap: US$ 4.965 trillion 💰

NVDA is down 1.1% so far today, though having pared earlier declines after bouncing off its 100-day simple moving average (SMA).





• Apple's market cap: US$ 4.876 trillion 💰

AAPL is down 0.4% so far today, paring earlier gains, though still trading around its record high!





How have these stocks performed so far in 2026?

• Nvidia: +10% so far in 2026
• Apple: +22.5% so far in 2026



As seen above, Apple is far outperforming its other "Magnificent 7" peers on a year-to-date basis:

• Alphabet: +10%
• Amazon: +7.7%
• Meta: -4.4%
• Tesla: -15.1%
• Microsoft: -18.9%



Why has Apple soared so much?

This week, markets have been rotating away from AI's big spenders, concerned whether all the massive capex will one day pay off.

Specifically today (Friday, July 17th), AI stock investors were also spooked by the so-called "Kimi moment".

Chinese AI startup, Moonshot, made a shocking announcment that its Kimi K3 model can rival OpenAI and Anthropic's strongest AI models.

Also, Apple got its own AI boost earlier this week, receiving government approval to roll out Apple Intelligence in China.

That mid-week development sent Apple's shares to fresh record highs!

Its gains since mid-week now allows Apple to threaten Nvidia as the world's biggest company.



Can Apple and Nvidia shares go even higher?

According to Wall Street analysts surveyed by Bloomberg:

• Nvidia may still skyrocket another 47% from current prices over the next 12 months

• Apple has also risen over 3% past the average 12-month target price





3 Key Factors to Watch:



1) AI trade - more unwinding to go?

If markets still believe that once AI darlings no longer warrant such lofty valuations, on fears that all this hyper-spending and hyperscaling will not eventually pay off, these AI stocks may yet tumble further.



2) Fed rate hikes?

Stocks generally dislike the idea of US interest rates moving higher.

At the time of writing, markets fully expect at last one Fed rate hike by end-2026, with another 20% chance of a second 25-basis point hike by year-end.

Should markets lower expectations for Fed rate hikes, that coulld offer some relief for AI and semiconductor stocks.



3) Upcoming earnings

• Apple: July 30th (after US markets close)

• Nvidia: August 26th (after US markets close)

And here are the market's current predictions for how much either of these stocks may react once US markets resume trading after their respective earnings announcements:

• Apple: 3.3% up/down

• Nvidia: 5.6% up/dpwm

READ MORE: Forecasts - How might big-name stocks react to earnings?



Once the dust settles, it'll be fascinating to discover whether one can ultimately pull away as the clear and obvious winner - as the world's biggest and most valuable company.

Let us know in the comments below ...

Apple vs. Nvidia: which company will end the year as the world's most valuable company?



Win a Cybertruck this Stock Earnings Season!

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This article is provided for general information and reflects the author’s views only. It does not constitute investment advice, nor an offer or solicitation to buy or sell any financial instruments or digital assets. Your ability to access or use any products or services mentioned may be subject to the laws and regulatory requirements of your jurisdiction.