Nvidia Net Income Doubles Apple's Quarterly Profit
Nvidia reported a quarterly net income of $59.7 billion, doubling Apple's $29.8 billion as AI chip demand drives massive growth.
Nvidia Inc. reported a net income of $59.7 billion for its fiscal second quarter of 2027, a 126% increase year-over-year. This profit figure is roughly double the $29.8 billion earned by Apple Inc. during its fiscal third quarter of 2026. Nvidia's growth was primarily fueled by $89.0 billion in data center sales, although the company's revenue remains concentrated among a small number of large customers.
Apple saw more modest growth of 27% year-over-year, supported by a 12% increase in services revenue, which reached $30.7 billion. Despite the significant gap in quarterly profits, the stock market maintains closer valuations for the two companies, with Nvidia's market capitalization at approximately $5.8 trillion and Apple's at $4.9 trillion.
Market analysts suggest this valuation gap exists because investors perceive Apple's steady services-based income as more durable than the potentially volatile demand for AI chips. Apple Chief Financial Officer Kevan Parekh noted that the company's installed base of active devices reached a new all-time high across all major product categories and geographic segments.
