Apple vs NVIDIA Market Cap: $5.1T Lead Fades [2026]

Apple briefly became the world’s most valuable publicly traded company on Friday, October 23, 2026, edging past NVIDIA during trading on the same day the iPhone Duo reached stores. Shares touched $351.73 intraday, which put Apple’s market capitalization near $5.1 trillion. Hypebeast framed the day as a historic market-cap moment.

The crown did not last. By the closing bell, NVIDIA had retaken first place with a value of $5.094 trillion against Apple’s $5.074 trillion. That is a gap of roughly $20 billion, or about 0.4% of NVIDIA’s value, and it makes the Apple vs NVIDIA market cap race the tightest scoreboard in tech right now. Meanwhile the hardware story behind the rally keeps growing, as our report on iPhone Duo demand and backorders shows.