Apple briefly passed Nvidia as the world's most valuable publicly traded company on iPhone Duo launch day
It's the fifth time Apple has retaken the top spot, by Yahoo Finance's count. Nvidia moved back ahead later in the day.
By Marcus Rodriguez ·
Why it matters: The two largest US companies are each worth about $5.1 trillion, so small moves in either stock keep flipping which one is No. 1.
For information only, not investment advice. Prices delayed.
Apple ($AAPL) briefly topped Nvidia ($NVDA) in market value on Friday, the day its $1,999 iPhone Duo, Apple's first foldable, hit stores. Yahoo Finance counts it as the fifth time Apple has taken the top spot back from Nvidia, and notes the move "has rarely stuck."
It didn't stick for long this time either. Early Friday, Apple's market value reached $5.11 trillion against Nvidia's $5.09 trillion, according to Google Finance figures cited by Stocktwits. Yahoo Finance said Nvidia later moved back into the lead, and The Apple Post said live rankings showed Nvidia ahead again. A CNBC Pro contributor column published at 3:07 PM ET had Apple at $5.05 trillion and Nvidia at $5.10 trillion.
Both stocks were slightly lower as of Oct 23, 4:00 PM ET: Apple was down 0.14% at $347.73 and Nvidia down 0.59% at $210.96. Yahoo Finance noted Apple hasn't finished a day on top since July 30.
Apple reports fiscal fourth-quarter results on Nov. 2. Those won't include any Duo sales, since the launch came after the quarter ended.
Sources
- Apple is taking Wall Street's top spot back from Nvidia — for the fifth time, Yahoo Finance
- Apple Overtakes Nvidia As World's Most Valuable Company — iPhone Duo Hits Stores Amid Strong Demand, Stocktwits (via Yahoo Finance)
- Apple briefly overtakes Nvidia to become world's most valuable company as iPhone Duo launches, The Apple Post
- Apple is set to take back the market-cap crown from Nvidia. Upcoming earnings may push it over the top, CNBC (CNBC Pro contributor column)
Tags: big-tech · semiconductors · valuation · markets-moves