# Nvidia reclaims world’s most valuable company title from Apple on election day

Digest AI · Business & Funding · published 2026-11-04T04:37:00Z

Canonical: https://digestai.news/story/nvidia-reclaims-worlds-most-valuable-company-title-from-apple-on-elect

## Summary

Nvidia’s shares jumped 2.29% to $206.69 on Tuesday, lifting its market value to $4.99 trillion and pushing it ahead of Apple, which slipped 1.90% to $331.90 and fell to a $4.84 trillion valuation. The lead of about $149 billion is modest compared with the larger gaps to Microsoft’s $3.87 trillion and Alphabet’s $3.44 trillion market caps.

Apple’s chief executive John Ternus warned that memory pricing is “unprecedented,” and the company guided its December‑quarter gross margin to 45%‑46%, down from 47.9% in the prior quarter, noting that a one‑point margin boost from tariff refunds will not repeat. The firm has already raised prices on Macs, iPads and iPhones, and added Siri AI cloud‑inference costs, suggesting margin pressure could linger past the holidays. Meanwhile, AMD reported a record $8.5 billion data‑center revenue, up 97%, underscoring the AI‑driven demand that helped Nvidia regain the top spot.

## Key points

- Nvidia rose 2.29% to $206.69, giving it a $4.99 trillion market cap, overtaking Apple’s $4.84 trillion valuation
- Apple guided December‑quarter gross margin to 45%‑46%, down from 47.9% in the prior quarter
- AMD posted record $8.5 billion data‑center revenue, up 97%, highlighting AI‑driven demand

## Why it matters

The shift reflects how AI‑related demand is reshaping the tech hierarchy, squeezing margins for device makers while boosting chip makers that supply the needed hardware.

## Sources

1. [Nvidia Took Back the World’s Biggest Company Title From Apple on Election Day](https://finance.yahoo.com/markets/stocks/articles/nvidia-took-back-world-biggest-123723546.html) (finance.yahoo.com, 2026-11-04)

Part of the developing story: [Musk's AI Space Race Expands](https://digestai.news/thread/musk-floats-amazon-rival-nvidia-spacex-explore-space-data-centers) (6 stories)

## Cite

Digest AI, "Nvidia reclaims world’s most valuable company title from Apple on election day", 4 November 2026, https://digestai.news/story/nvidia-reclaims-worlds-most-valuable-company-title-from-apple-on-elect

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