Apple regains top market value at $4.94 trillion

• Apple regained the position of the world’s most valuable public company as its market capitalisation reached about $4.94 trillion.
• Apple shares rose more than 1% on Monday, while Nvidia’s market value stood at about $4.83 trillion.
• Investors have viewed Apple’s lower AI spending approach as a potential advantage compared with companies increasing AI infrastructure investment.

Apple (NASDAQ:AAPL) reclaimed the title of the world’s most valuable public company on Monday as its market capitalisation reached about $4.94 trillion after shares rose more than 1%.

The move placed Apple ahead of Nvidia (NASDAQ:NVDA), which had a market capitalisation of about $4.83 trillion, as Apple shares gained more than 22% year to date.

“Once criticized for not spending more on AI, they have been able to avoid some of those capex pitfalls,” said Jay Woods, Chief Market Strategist at Freedom Capital Markets.

Apple’s capital expenditure has declined over the past three quarters, according to Yahoo Finance AlphaSpace data, while other technology companies, including Alphabet and Tesla have increased spending on artificial intelligence infrastructure and related projects.

Investors are awaiting Apple’s earnings report later this week, with attention focused on the company’s AI developments, including the expansion of Apple Intelligence features.

Apple develops consumer technology products and services, including the iPhone, Mac computers, wearables and digital services, while competing with major technology companies investing heavily in artificial intelligence.

The company’s upcoming earnings call will also be the final one for Chief Executive Officer Tim Cook before he transitions to executive chairman on September 1, with John Ternus expected to become CEO.