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Apple: Apple and Nvidia traded blows on Friday in the race for the title of world's most valuable company.
The iPhone maker briefly edged out its longtime rival in market value.
Nvidia's shares fell roughly 3% in early trading. Its market value slipped to $4.84 trillion.
Apple's valuation climbed to nearly $4.88 trillion during that stretch. The two companies later swapped positions again.
The rivals have followed very different paths so far in 2026.
Apple stock has jumped 22% this year. The gains have outpaced the broader market.
Investors are rewarding the company's AI strategy and its lean approach to capital spending.
That stands out at a time when many businesses are pouring unprecedented sums into AI infrastructure.
Apple shares touched new highs this week. HSBC responded by upgrading the stock to a buy rating.
Analysts pointed to Apple's expanding AI capabilities and a robust product lineup ahead.
HSBC said the AI momentum arrives at an ideal time, adding that Apple's product pipeline looks like one of its strongest in years.
Nvidia, meanwhile, has climbed just 7% in 2026. The chipmaker has largely stayed on the sidelines as Wall Street shifts focus toward memory chips and data center infrastructure.
That shift has lifted memory stocks including Micron Technology and Sandisk.
Nvidia has held the title of world's most valuable company since June 2025, when it overtook Microsoft.
The chipmaker made history in October by becoming the first company to reach a $5 trillion market cap.
That same month, Apple topped $4 trillion in market value for the first time, driven by strong iPhone sales.
Visual Disclaimer: This is an AI-generated illustrative portrait. It is used for creative representation and does not depict a real-time event. Created by AD News Live.
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