Apple Briefly Tops Nvidia in Market Value After Foldable iPhone Launch
Apple's shares reached an intraday record after its foldable iPhone Duo sold out quickly, briefly giving the company a market value of about $5.1 trillion and putting it ahead of Nvidia. Nvidia recovered the lead by the closing bell and finished roughly $20 billion ahead. The key question for investors is whether a launch constrained by supply can support Apple's valuation before its November 2 earnings report.
Apple’s intraday peak of $351.73 lifted its valuation to roughly $5.1 trillion, briefly surpassing Nvidia. By settlement, Apple closed at $347.73, valuing it near $5.074 trillion, while Nvidia’s $210.96 close implied about $5.094 trillion—a lead of some $20 billion, narrower than the prior day’s $42 billion gap.
The Duo ranges from $1,999 to $3,199; early orders sold out, with some deliveries pushed to late January and resale listings above $4,000. In China, launch-day walk-ins were blocked and online buyers were capped at two units, while Beijing resellers sought premiums of up to 3,000 yuan.
The contest for market value could affect ordinary investors through tech-heavy funds and retirement accounts, while the Duo’s high price and scarce supply may shape consumer access and resale markets. Suppliers, developers, and retail workers could feel ripple effects from holiday demand, though a single launch may not alter long-term market concentration.