Apple overtakes Nvidia in market value as semiconductor shares drop

Apple passed Nvidia in market capitalization on 30 October 2026, four outlets reported. AppleInsider, cited by FourWeekMBA, reported that Apple reached a market valuation of $5.03 trillion while Nvidia dropped to $4.93 trillion. TradingKey also confirmed that Apple overtook Nvidia to lead global company market capitalizations. [1][4]

Semiconductor stocks suffered broad losses on the same day. Intel dropped sharply, with FourWeekMBA reporting a 28.6 percent decline. Stocks Down Under reported Intel crashed 28 percent, while TopNews said it fell 30 percent and 24/7 Wall St. cited a 25 percent plunge. Major semiconductor and technology companies including AMD, Dell, Micron, and Amazon also suffered losses across trading platforms. [1][2][5][6]

The steep drop in chipmaker shares hit sector valuations early in the day. FourWeekMBA calculated that six United States listed chipmakers lost roughly $546 billion in market value just seventeen minutes into the trading session. TopNews and 24/7 Wall St. both noted that AMD fell 10 percent, while 24/7 Wall St. reported that Dell tumbled 13 percent and Nvidia fell 3 percent. [1][5][6]

Intel designs, manufactures, and sells central processing units and computer components for business and consumer markets from its headquarters in Santa Clara, California. Intel was the third largest semiconductor chip manufacturer by revenue in 2024. TradingKey cited growing doubts over returns on artificial intelligence investments as a key factor dragging down technology stocks. [4][8]