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Apple overtakes Nvidia as world’s most valuable listed company
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Apple’s market value edged past Nvidia’s at Friday’s close after disappointing technology-sector results fuelled renewed doubts about returns on AI spending.
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Apple overtook Nvidia to become the world’s most valuable publicly listed company at Friday’s Wall Street close, as investors sold technology shares after disappointing results from Intel and Amazon.
Nvidia ended the day valued at $4.9 trillion, while Apple was worth $5 trillion, according to ANP, which reported the figures from Bloomberg. Apple’s shares fell 1.2% on Friday, but Nvidia’s losses were steeper.
The sell-off followed weak results from Intel and Amazon, and earlier disappointing results from Alphabet and Meta. The reports renewed concerns about whether the huge sums technology companies are spending on artificial intelligence will pay off.
Apple has largely avoided those investments, a contrast that Nieuws.nl’s report said investors viewed as making it a safer option. The company also briefly overtook Nvidia as the world’s most valuable listed firm in July.
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