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Nvidia retakes world's most valuable company crown from Apple after just four days
What happened
Nvidia and Apple looked set to trade places as the world's largest company yet again on Tuesday, Nov. 3, 2026. Nvidia stock climbed 1.5% in premarket trading to ~$205, while Apple declined 4.7% to $322.37 after its so-so revenue/margin guidance weighed on shares — implying market caps of $4.94T for Nvidia and $4.71T for Apple at the opening bell. Apple had dethroned Nvidia only on Friday during the AI-selloff selldown. Nvidia's CEO Jensen Huang also blessed Marvell's $115B Lumentum megadeal, per Bloomberg.
Why it matters & what’s next are part of Pro, along with the audio summary.
Start your free 14-day trialWho’s affected
- NVDA (Nvidia) — +1.5% premarket to ~$205, market cap ~$4.94T; chip stocks rising in premarket (AMD +2.8% ahead of earnings, Marvell, Intel also up)
- AAPL (Apple) — -4.7% premarket to $322.37, market cap ~$4.71T; trading at ~36x expected earnings (FactSet); memory-cost pressure on holiday-quarter margins
- MRVL (Marvell), LITE (Lumentum) — merger gets Huang's endorsement; Nvidia is an existing $2B investor in both
Sources