Apple's market cap overtakes Nvidia to reclaim global top spot, relative stability highlights resilience in investments.

October 31 — According to data from the BIT stock platform, Apple (AAPL.O) closed Friday with a market capitalization of $5.03 trillion, surpassing Nvidia's (NVDA.O) $4.93 trillion to become the world's most valuable publicly listed company.

This is the first time Apple has overtaken Nvidia since late July. Apple shares fell 1.2% that day, while Nvidia dropped 4.2%. Recent earnings from Intel (INTC.O) and Amazon (AMZN.O) have intensified market concerns over returns on massive AI capital expenditures, with Alphabet (GOOG.O) and Meta Platforms (META.O) also having faced sell-offs earlier.

By contrast, Apple's relatively restrained infrastructure investment and stronger free cash flow have given it relative resilience amid the tech stock correction. Apple shares are up 27% year to date, while Nvidia has fallen more than 10% over the past month.