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Nvidia Surges Past Apple in Market Cap
28 Sep
Summary
- Nvidia is now the world's largest company by market cap.
- Nvidia's revenue grew 106% year-over-year in fiscal Q2.
- Nvidia stock trades at a significant discount to Apple's.
As of September 28, 2026, Nvidia (NASDAQ: NVDA) has surpassed Apple (NASDAQ: AAPL) to become the world's most valuable company, boasting a market capitalization of about $5.4 trillion. This significant lead highlights a substantial gap between the two tech giants.
Nvidia's impressive ascent is largely driven by the booming artificial intelligence sector, for which its semiconductor GPUs are in high demand. The company reported a staggering 106% year-over-year revenue increase in its fiscal second quarter, reaching $96.2 billion. Analysts project this growth to continue, with a 70% revenue increase forecast for the upcoming year.
In contrast, Apple's revenue grew at a 16% year-over-year pace to $109 billion in its most recent quarter, with its iPhone and Services divisions being key contributors. While Apple shows strong growth, it is considerably outpaced by Nvidia's expansion.
Furthermore, Nvidia's stock presents a more attractive valuation. Despite its rapid growth and dominant market position, Nvidia trades at a lower price-to-earnings ratio than Apple. When considering forward earnings projections, Nvidia appears exceptionally undervalued, while Apple's valuation remains relatively high, suggesting Nvidia is a more favorable investment for maximizing returns.
