CUPERTINO (dpa-AFX) - Apple Inc. (AAPL) has reclaimed its spot as the world's most valuable publicly traded company, edging past Nvidia Corporation (NVDA) as investors rewarded the iPhone makers more measured approach to AI spending ahead of its quarterly earnings report.
Apple's market value climbed to about $4.94 trillion, topping Nvidia's roughly $4.83 trillion. Investors have increasingly viewed Apple's restrained capital spending as a strength, especially compared with rivals committing tens of billions of dollars to new AI infrastructure.
While companies such as Alphabet and Tesla have stepped up spending to support AI data centers, robotaxis, and robotics, Apple has cut capital expenditures over the past three quarters even as it continues to expand its Apple Intelligence platform.
Investors will be watching Apple's earnings on Thursday for clues about its AI roadmap, including whether it can scale Apple Intelligence without a big jump in capital spending or pressure on operating margins.
The call will also mark Tim Cook's last as CEO before he becomes executive chairman on Sept. 1, with hardware chief John Ternus expected to take over as chief executive.
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