Apple Reclaims Top Spot
Apple Inc. surpassed Nvidia Corp. as the world's most valuable publicly traded company on July 17, according to a report by Daily Mail. Apple shares rose to a record high of $337 in early trading in New York, valuing the company at $4.9 trillion. Nvidia shares fell nearly 5% to below $200, giving the chipmaker a market capitalization of $4.8 trillion. The two companies continued to trade places during the session as Nvidia clawed back some of its losses, the report stated.
The change at the top came as investors reassessed the outlook for artificial intelligence following a prolonged run in semiconductor stocks, according to the report. Nvidia first became the world's largest company in May 2025 and in October 2025 became the first business valued at $5 trillion, the report said.
AI-Linked Stock Decline
The Philadelphia Semiconductor Index, which tracks 30 chip companies including ASML, Intel, Arm and Nvidia, fell nearly 6% on July 17, the report stated. That left the index down 20% from its June peak, a decline commonly referred to as a bear market, after it more than doubled in value over the previous three months, according
