Nvidia Falls to $4.83 Trillion, Loses Most-Valuable Crown to Apple

NVDA News

Nvidia (NVDA) briefly lost its title as the world’s most valuable public company on Friday, ceding the crown to Apple roughly 10 minutes into the New York session. Apple shares touched an all-time high of $334.95, lifting its valuation above $4.92 trillion. Nvidia, by contrast, traded at $199.38, down about 4% from Thursday’s close, leaving its market capitalization near $4.83 trillion — more than $100 billion behind its rival. The switch, recorded around 9:40am New York time, lasted less than an hour before Nvidia reclaimed the top spot. The chipmaker had held the crown for roughly 12 consecutive months since June 2025, making the reversal a symbolic marker of shifting sentiment.

The move owed more to Nvidia’s slide than to any surge from Apple, whose shares barely moved in early trade. Nvidia’s decline is now two months old: the stock peaked in mid-May and has since shed more than $800 billion in market value, an amount roughly equal to what Apple has added back over the same stretch. Friday’s selloff briefly pushed Nvidia toward 20 times earnings, an unusually modest multiple for a company that spent the past year as the defining trade of the artificial-intelligence boom. The pullback underscores how quickly a leadership position built on AI demand can erode when momentum reverses.

Behind the rotation is a broader repositioning across Wall Street through July. Investors have steadily backed away from the most aggressive AI spenders and reallocated toward steadier names and component suppliers. Capital has moved out of pure AI plays and into memory-chip makers such as Micron and Sandisk, which sit further down the hardware supply chain. The scoreboard reflects the shift: Apple entered Friday up about 22% for the year, while Nvidia was ahead only around 7% after its dominant 2025 run. For a stock that led the market higher for months, that relative underperformance marks a notable change in how investors are pricing AI exposure.

Sentiment toward capital discipline is reinforcing the trend. One major bank upgraded Apple to a buy rating on Friday with a $366 price target, pointing to Apple’s comparatively restrained capital spending of about 2.5% of sales versus the roughly 39% committed by the largest hyperscalers. That contrast has rewarded companies seen as spending conservatively on AI infrastructure rather than racing to build it out. Apple’s AI software suite also cleared a registration hurdle with China’s internet regulator this week, opening access to a major market. For traders watching an AI trading bot landscape, the episode is a reminder that spending intensity now weighs heavily on valuations.

Nvidia’s reach into financial technology also drew fresh attention. UK corporate filings indicate the chipmaker’s venture arm, NVentures, likely holds 141,834 shares in Revolut worth roughly $196 million, a stake neither company has publicly quantified. A statement filed at Companies House, Britain’s company registry, points to the position, which at Revolut’s last round price works out to about $1,380 per share. NVentures acquired the holding through a November 2025 share sale that valued Revolut at $75 billion, with the fintech saying the investment would deepen collaboration on AI. Revolut serves roughly 16 million crypto users, giving Nvidia indirect exposure to a fast-growing digital-asset customer base.

Revolut’s trajectory adds context to that bet. The company is reportedly weighing a new share sale at a $115 billion valuation, a 53% jump in about seven months, with an IPO ruled out before 2028. Its regulatory footprint keeps expanding: in March it launched as a fully licensed UK bank for its 13 million British customers, and on July 15 Dubai’s Virtual Assets Regulatory Authority granted it in-principle approval for a crypto license. That licensing momentum — spanning traditional banking and digital assets — helps explain why an AI chipmaker would take a strategic position in a firm bridging conventional finance and the broader altcoin economy, even as it manages its own valuation swings.

On COINOTAG’s proprietary 42-indicator composite S/R scoring engine, NVDA trades near $202.32, down 1.91% on the day in a sideways structure, with RSI at 48.05 and a bullish MACD signal. Our engine rates the $203.55 resistance a formidable 89/100, driven by the confluence of the EMA 100 and Fibonacci 0.618, with a second barrier at $207.76 scored 75/100 from VWAP and the pivot point. Support at $196.63 carries a 68/100 reading, anchored by Supertrend and the Fibonacci 0.786 retracement, backed by $201.86 at 59/100. Derivatives are neutral: funding sits at 0.0002% with open interest near $3.26 million, while the Fear & Greed Index reads 27 (Fear). A daily close above $203.55 would flip the bias bullish; losing $196.63 invalidates the recovery thesis.