Apple reclaims world's most valuable company title on iPhone Duo launch day; shares hit record high above $351 (Oct 23)
What happened
Apple reclaimed the title of the world's most valuable company on Friday, October 23, overtaking Nvidia. AAPL traded above $351 per share, setting a new intraday trading record, with market capitalization around $5.12 trillion. Nvidia and Google follow. The milestone came on the global launch day of the iPhone Duo, Apple's first foldable iPhone — a $1,999 (base 256GB) device described as the thinnest iPhone ever when opened flat, with a continuous internal display roughly 50% larger than the latest iPhone Pro. Apple limited purchases to two units per customer and discouraged walk-in sales amid tight supply; preorders had sold out within minutes of opening on October 16, with online delivery estimates already slipping into late January. Apple called demand for the device 'nothing short of extraordinary' on October 18.
Why it matters & what’s next are part of Pro, along with the audio summary.
Start your free 14-day trialWho’s affected
- AAPL — new all-time intraday high; reclaimed world's most valuable company; direct beneficiary of Duo demand and ASP mix shift upward
- NVDA — displaced from the top spot; the Apple-Nvidia crown swap underscores the rotation debate inside megacap tech
- Samsung foldable ecosystem / GOOGL (Pixel foldables) — Apple entering with ~44% projected foldable value share pressures incumbent foldable players
- Semiconductor equipment / supply chain — Duo demand and tight supply spotlight component suppliers for foldable displays