Apple Reclaims Top Market Cap From Nvidia; Nvidia Reports on 17 November

The Race for Number One

Apple shares are up about 26.8% in 2026 and have reclaimed the top spot by market capitalisation from Nvidia, according to market reports. Apple reported its fiscal fourth-quarter results after the close on 2 November.

Nvidia is next

Nvidia reports third-quarter results on Tuesday, 17 November, after the US close. With chip stocks under pressure from AI spending worries, it is the most closely watched report of the month.

Why it matters

Apple and Nvidia are the two largest weights in the S&P 500 and the Nasdaq-100. Their moves alone can decide whether the indices close up or down, which matters for anyone trading index funds or options.

Earnings season so far

Companies are beating estimates by only about 1.4% on average, well below their five- and ten-year norms, a sign the bar has been set high.

Educational content, not investment advice.