Key facts
- Apple's market value rose about 4% between Oct. 6 and Oct. 23.
- Nvidia's market value fell nearly 12% in the same period.
- Apple recently unveiled its first foldable iPhone, the iPhone Duo.
- Apple also launched HomeView, a smart home display.
- Apple's first touchscreen MacBook Pro was also recently launched.
Apple Inc. reclaimed the title of world's most valuable company on Friday, taking the mantle from Nvidia Corp. Investors are seeking the perceived safety of the iPhone maker amid concerns about artificial intelligence spending. The AI boom has crowned a new kind of technology king, with Nvidia gaining momentum through its AI chip expertise and becoming the first company to reach a $5 trillion market capitalization. However, worries about AI financing have weighed on Nvidia, while Apple has pushed to record highs. Apple's market value rose about 4% between Oct. 6 and Oct. 23, while Nvidia's fell nearly 12%.