Apple Overtakes Nvidia as World's Most Valuable Company

Apple Inc. reclaimed its position as the world's most valuable company by market capitalization on Friday, overtaking Nvidia Corporation. The shift coincided with the global launch of the iPhone Duo, a foldable smartphone priced at $2,000.

Apple shares reached a new intraday trading record above $351 per share, pushing the company's market valuation to approximately $5.12 trillion. This surge occurred as Nvidia faced increasing pressure, with its stock declining 7.3% over the previous month amid investor concerns regarding the sustainability of the AI trade.

Despite some critical reviews of the iPhone Duo, investors currently view Apple as a defensive play. Market analysts suggest the company possesses a deep pool of potential buyers among existing users owning older iPhone models.