Apple overtakes Nvidia as world's most valuable company amid chip selloff

Chipmaking giant Nvidia, one of the 'Magnificent Seven' stocks, lost its position as the world's most valuable company to Apple in Friday's trading session following a fresh selloff in semiconductor stocks.

Nvidia, which had held the top spot since May 2025, saw its shares tumble 3.7% on Friday, reducing its market capitalisation to around $4.8 trillion. In contrast, Apple shares rose 0.4%, lifting the iPhone maker's valuation to approximately $4.9 trillion.

Apple has benefited from a broader rotation within the technology sector, as investors shift away from companies heavily exposed to artificial intelligence (AI) infrastructure spending.

Nvidia came under pressure after reports that Chinese AI startup Moonshot had developed a new AI model capable of competing with leading offerings from OpenAI and Anthropic, both of which rely extensively on Nvidia's chips.

The emergence of competitive Chinese AI models has reinforced concerns that the massive wave of spending on AI infrastructure may be approaching its peak. Adding to Apple's momentum, HSBC upgraded the stock to 'Buy' from 'Hold', saying the company is well-positioned to benefit from the current market environment, according to a Bloomberg report.

Ksheera Sagar has been working as a Market Research Analyst at LiveMint for the past four years, covering stocks, commodities, and broader financial markets. In this role, he closely tracks daily market movements, corporate earnings, sector trends, and macroeconomic developments. <br><br> He has over a decade of experience in the financial services industry and has previously worked with multiple organisations, including global investment bank J.P. Morgan, bringing strong research experience into the newsroom. <br><br> During his career, he has gained extensive exposure to equity research, market analysis, and financial data interpretation, strengthening his expertise across asset classes and market cycles. <br><br> He is known for his data-driven analysis and crisp, listicle-style market stories that break down complex financial developments across key markets for a wide audience. His strong research skills enable him to write detailed and insightful stories on stocks and sectors, focusing on the underlying factors driving market movements. <br><br> His work combines quantitative insights with clear storytelling, presenting financial developments in a clear and structured manner. Moreover, he enjoys writing multibagger and listicle-style copies. Outside of work, Ksheera enjoys playing the piano and exploring new places. He has a keen interest in travel, music, and continuously learning about global markets and economic trends.

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