King Apple is taking Wall Street's top spot back from Nvidia -- for the fifth time

Apple briefly reclaimed Wall Street’s top spot in market value from Nvidia on Friday, marking the fifth time it has done so. Both companies were valued at about $5.1 trillion, with the gap under 1% at Thursday’s close. The switch coincided with Apple’s stock record run and the day its $1,999 iPhone Duo hit stores, though Nvidia soon moved back ahead. Over the past decade, Apple led in roughly 7 of every 10 sessions since October 2015, except for stretches where Microsoft, Amazon, and Alphabet briefly held No. 1. The AI boom changed the pattern: Nvidia first closed at No. 1 on June 18, 2024 and has kept the lead nearly nonstop since June 2025. Apple’s prior holds include a DeepSeek-driven chip selloff in January 2025. Next catalysts are earnings from Microsoft and Alphabet on Wednesday.