<p><strong>Nvidia</strong> <span class="ticker-mention inline-flex items-center font-bold">(NVDA <span class="ml-1 text-red-900">1.39%</span>)</span> currently holds the title of the world's most valuable company, and <strong>Apple</strong> <span class="ticker-mention inline-flex items-center font-bold">(AAPL <span class="ml-1 text-green-900">+4.88%</span>)</span> is close again. As of this writing, Nvidia carries a market capitalization of about $4.7 trillion, some $190 billion -- or about 4% -- ahead of Apple at about $4.5 trillion. Apple closed much of the gap on Thursday, jumping nearly 5% on reports of an expanded iPhone lineup, while Nvidia slipped alongside a broader sell-off in chip stocks.</p>
<p>So, could Apple retake the crown this month? Here's how the two sides stack up.</p>
<div class="image"><img alt="A person using an Apple laptop with two Apple Studio monitors." width="880" height="587" class="h-auto max-w-full rounded object-contain" src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84Nzc0NDYvYXBwbGUtc3RvY2stdnMtbnZkYS5qcGcmdz0zODQw?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84Nzc0NDYvYXBwbGUtc3RvY2stdnMtbnZkYS5qcGcmdz0zODQw"/>
<p>Image source: Apple.</p>
</div>
<h2>Nvidia: faster growth, cheaper stock</h2>
<p>As far as its business momentum goes, Nvidia is in a class of its own. In its fiscal first quarter of 2027 (the period ended April 26, 2026), revenue rose 85% year over year to $81.6 billion, with data center revenue setting a record at $75.2 billion. The chipmaker trades at about 30 times earnings.</p>
<p>The catch for the crown race is timing. Nvidia doesn't report again until late August, so it has no company catalyst this month -- its share price is at the mercy of artificial intelligence (AI) sentiment, which has turned jumpy on worries about how much the AI build-out will cost. That souring mood is exactly what let Apple close the gap.</p><div class="my-8 lg:hidden"><div id="foolcom_sidebar_top_container" class="pitch-container"><div><div class="min-h-[350px] rounded border border-gray-200 bg-white p-4 shadow-sm"><div class="mb-3 h-4 w-2/3 rounded bg-gray-200"></div><div class="mb-2 h-3 w-full rounded bg-gray-100"></div><div class="h-3 w-5/6 rounded bg-gray-100"></div></div></div><div></div></div></div>
<section><div class="flex flex-wrap place-content-between"><div class="flex w-full place-items-center lg:w-3/4"><div class="p-[8px] text-center" style="width: 95px"><small><div class="flex flex-col items-center gap-2">Expand</div></small></div><div class="py-4 pr-4"><img alt="Nvidia Stock Quote" width="64" height="64" class="w-full flex-none object-contain" src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vYXJ0L2NvbXBhbnlsb2dvcy9tYXJrL05WREEucG5nJnc9MTI4?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vYXJ0L2NvbXBhbnlsb2dvcy9tYXJrL05WREEucG5nJnc9MTI4"/></div><div class="pr-[16px]"><h2>NASDAQ: NVDA</h2><div class="text-md leading-[1] font-medium text-gray-800">Nvidia</div></div></div><div class="flex w-full place-items-center lg:w-1/4"><div class="h-full w-5/6 px-4 py-2.5 lg:text-right bg-red-200"><div class="mb-[2px] text-[10px] text-gray-800">Today's Change</div><div class="mb-6 text-[18px] leading-none font-medium text-red-900">(-1.39%) $-2.75</div><div class="mb-[2px] text-[10px] text-gray-800">Current Price</div><div class="text-gray-1100 text-[18px] leading-none font-medium">$194.84</div></div><div class="flex h-full w-1/6 items-center justify-center py-2.5 bg-red-900"></div></div></div><div class="flex flex-wrap overflow-hidden transition-all duration-300 h-0"><div class="w-full border-t border-gray-300 p-2 lg:w-3/4 lg:border-r lg:p-6"></div><div class="w-full p-2 lg:w-1/4 lg:p-4"><h3>Key Data Points</h3><div class="text-gray-1100 my-[14px] grid grid-cols-2 text-sm"><div class="border-b border-gray-300 py-[14px] text-gray-800">Market Cap</div><div class="border-b border-gray-300 py-[14px] text-right font-bold">$4.7T</div><div class="border-b border-gray-300 py-[14px] text-gray-800">Day's Range</div><div class="border-b border-gray-300 py-[14px] text-right font-bold">$192.36 - $200.03</div><div class="border-b border-gray-300 py-[14px] text-gray-800">52wk Range</div><div class="border-b border-gray-300 py-[14px] text-right font-bold">$157.34 - $236.54</div><div class="border-b border-gray-300 py-[14px] text-gray-800">Volume</div><div class="border-b border-gray-300 py-[14px] text-right font-bold">5.6M</div><div class="border-b border-gray-300 py-[14px] text-gray-800">Avg Vol</div><div class="border-b border-gray-300 py-[14px] text-right font-bold">159M</div><div class="border-b border-gray-300 py-[14px] text-gray-800">Gross Margin</div><div class="border-b border-gray-300 py-[14px] text-right font-bold">74.15%</div><div class="border-b border-gray-300 py-[14px] text-gray-800">Dividend Yield</div><div class="border-b border-gray-300 py-[14px] text-right font-bold">0.14%</div></div></div></div></section>
<p>It's worth stressing that the chip-stock sell-off is about sentiment, not Nvidia's results. Demand still looks ferocious; data center revenue nearly doubled from a year earlier, and gross margin held around 75%. The worry weighing on the group is whether the big cloud companies can keep funding an AI build-out this expensive, not whether Nvidia is selling fewer chips.</p><div class="mb-8 flex justify-center"></div>
<h2>Apple: a catalyst is on the calendar</h2>
<p>Apple's edge is a less cyclical business with a durable growth opportunity, as the company is seen as a bigger AI beneficiary deeper into the AI boom's maturity, when on-device AI features become more important. Then there's the potential catalyst of a rumored foldable iPhone that may be debuted this fall.</p><div><div id="in_line_article_pitch_container" class="pitch-container"><div><div class="my-32px p-40px relative mx-auto min-h-[660px] overflow-hidden rounded border border-gray-200 bg-gray-100 md:min-h-[300px]"><div class="border-b-1px pb-16px border-dotted border-gray-300"><div class="h-8 w-2/3 rounded bg-gray-200"></div></div><div class="mt-16px space-y-3"><div class="h-6 w-full rounded bg-gray-200"></div><div class="h-6 w-11/12 rounded bg-gray-200"></div><div class="h-12 w-48 rounded bg-gray-300"></div></div></div></div><div></div></div></div>
<p>The tech giant notably reports its fiscal third-quarter results on July 30, with guidance for 14% to 17% revenue growth, and it enters that print with momentum: fiscal second-quarter revenue grew 17% to $111.2 billion, led by a 22% jump in iPhone sales.</p>
<p>Pair a strong report with the buzz around a rumored release of five new iPhones, and Apple has a concrete near-term reason for the gap to keep narrowing.</p>
<p>The risk is what you pay for that growth. Apple trades at about 37 times earnings -- richer than Nvidia's 30 -- despite growing 17% against Nvidia's 85%. In other words, the company closing in on the crown is the more expensive and slower-growing of the two.</p>
<p>This premium valuation, however, isn't hard to understand. Apple's earnings are steadier than Nvidia's. Its services arm throws off high-margin, recurring revenue -- and it carries far less cyclicality than a chipmaker sitting at what some investors may fear is near the top of a spending boom.</p>
<section><div class="flex flex-wrap place-content-between"><div class="flex w-full place-items-center lg:w-3/4"><div class="p-[8px] text-center" style="width: 95px"><small><div class="flex flex-col items-center gap-2">Expand</div></small></div><div class="py-4 pr-4"><img alt="Apple Stock Quote" width="64" height="64" class="w-full flex-none object-contain" src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vYXJ0L2NvbXBhbnlsb2dvcy9tYXJrL0FBUEwucG5nJnc9MTI4?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vYXJ0L2NvbXBhbnlsb2dvcy9tYXJrL0FBUEwucG5nJnc9MTI4"/></div><div class="pr-[16px]"><h2>NASDAQ: AAPL</h2><div class="text-md leading-[1] font-medium text-gray-800">Apple</div></div></div><div class="flex w-full place-items-center lg:w-1/4"><div class="h-full w-5/6 px-4 py-2.5 lg:text-right bg-green-200"><div class="mb-[2px] text-[10px] text-gray-800">Today's Change</div><div class="mb-6 text-[18px] leading-none font-medium text-green-900">(4.88%) $14.36</div><div class="mb-[2px] text-[10px] text-gray-800">Current Price</div><div class="text-gray-1100 text-[18px] leading-none font-medium">$308.74</div></div><div class="flex h-full w-1/6 items-center justify-center py-2.5 bg-green-900"></div></div></div><div class="flex flex-wrap overflow-hidden transition-all duration-300 h-0"><div class="w-full border-t border-gray-300 p-2 lg:w-3/4 lg:border-r lg:p-6"></div><div class="w-full p-2 lg:w-1/4 lg:p-4"><h3>Key Data Points</h3><div class="text-gray-1100 my-[14px] grid grid-cols-2 text-sm"><div class="border-b border-gray-300 py-[14px] text-gray-800">Market Cap</div><div class="border-b border-gray-300 py-[14px] text-right font-bold">$4.5T</div><div class="border-b border-gray-300 py-[14px] text-gray-800">Day's Range</div><div class="border-b border-gray-300 py-[14px] text-right font-bold">$293.70 - $309.42</div><div class="border-b border-gray-300 py-[14px] text-gray-800">52wk Range</div><div class="border-b border-gray-300 py-[14px] text-right font-bold">$201.50 - $317.40</div><div class="border-b border-gray-300 py-[14px] text-gray-800">Volume</div><div class="border-b border-gray-300 py-[14px] text-right font-bold">4M</div><div class="border-b border-gray-300 py-[14px] text-gray-800">Avg Vol</div><div class="border-b border-gray-300 py-[14px] text-right font-bold">53.9M</div><div class="border-b border-gray-300 py-[14px] text-gray-800">Gross Margin</div><div class="border-b border-gray-300 py-[14px] text-right font-bold">47.86%</div><div class="border-b border-gray-300 py-[14px] text-gray-800">Dividend Yield</div><div class="border-b border-gray-300 py-[14px] text-right font-bold">0.34%</div></div></div></div></section>
<h2>Which is the better bet?</h2>
<p>I believe Apple has the better shot of being the bigger of the two companies later on this year. It has a catalyst on the horizon -- an upcoming iPhone launch that could include a new foldable phone) -- and a durable business that investors seem to expect to steadily compound for years. Indeed, while there's no way to predict the future, a strong July 30 earnings report set against continued chip-sector weakness could flip the ranking within weeks. Of course, an earnings report could work against Apple stock, too, if it includes some bad news.</p>
<p>But Nvidia stock is hard to pass up. The company's soaring top and bottom lines are nothing short of astounding. In addition, it is the cheaper of the two stocks and is growing nearly five times as fast.</p>
<p>Still, in the longer term, I think Apple has an even greater chance of being the bigger company than it does in the short term. And this boils down to its comparatively lower cyclicality, its loyal customer base, and its optionality to expand into new areas over time, given its global reach among consumers.</p><div id="article_pitch_container" class="pitch-container"><div><div class="mb-32px p-24px min-h-[1000px] bg-gray-100 md:min-h-[560px]"><div class="mb-8px h-10 w-60 rounded bg-gray-200"></div><div class="mb-16px h-8 w-48 rounded bg-gray-200"></div><div class="mb-2 h-4 w-full rounded bg-gray-200"></div><div class="mb-2 h-4 w-5/6 rounded bg-gray-200"></div><div class="mb-2 h-4 w-4/6 rounded bg-gray-200"></div><div class="mt-16px h-12 w-44 rounded bg-gray-300"></div><div class="mt-20px h-3 w-3/4 rounded bg-gray-200"></div></div></div><div></div></div><div id="promobox_container" class="pitch-container"><div><div class="min-h-[570px] rounded border border-gray-200 bg-gray-100 p-4 md:min-h-[350px]"><div class="mb-3 h-4 w-2/3 rounded bg-gray-200"></div><div class="mb-2 h-3 w-full rounded bg-gray-100"></div><div class="mb-2 h-3 w-5/6 rounded bg-gray-100"></div><div class="mt-6 h-28 w-full rounded bg-gray-200"></div></div></div><div></div></div>

AAPL

NVDA

NVDY

<p>Apple is approximately 4% behind Nvidia in market capitalization, currently valued at $4.5 trillion compared to Nvidia's $4.7 trillion. Apple recently gained ground due to reports of an expanded iPhone lineup, while Nvidia slipped amid broader chip stock sell-offs driven by AI sentiment concerns. Although Nvidia boasts faster growth and a lower valuation multiple, Apple has near-term catalysts including upcoming earnings on July 30 and potential new product launches. Analysts suggest Apple may overtake Nvidia as the world's most valuable company this month if it delivers strong results amidst sector weakness.</p>

- Nvidia currently leads with a market cap of approximately $4.7 trillion, while Apple follows closely at $4.5 trillion.  
- Nvidia's fiscal growth remains robust, with a 85% revenue increase in Q1 2027, but faces sentiment risks due to AI development costs, while Apple benefits from steady growth and a potential iPhone launch.  
- Although Nvidia has faster growth and a cheaper stock, Apple's lower cyclicality and expanding business prospects suggest it could surpass Nvidia later this year.

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Apple Is About 4% Away From Overtaking Nvidia as the World's Most Valuable Company. Could It Happen This Month?