Nvidia Corporation (NASDAQ: NVDA) shares fell 4.22% to $204.64 on Friday, October 30, allowing Apple Inc. (NASDAQ: AAPL) to reclaim the title of the world’s most valuable publicly traded company for the first time since late July.
Apple finished the session with a market capitalization of approximately $5.03 trillion, ahead of Nvidia’s $4.93 trillion by roughly $100 billion. Apple shares also declined, slipping 1.23% to $344.63, but Nvidia’s larger percentage loss reversed the companies’ market-cap ranking.
Nvidia’s $9.02 per-share decline reduced its estimated equity market value by approximately $218 billion, based on roughly 24.15 billion outstanding shares.
Apple’s return to the top position also followed a substantial difference in the companies’ year-to-date stock performance. Apple shares had gained approximately 27% in 2026, more than twice Nvidia’s advance.
Nvidia Shares Approach 200-Day Moving Average After Three-Day Slide
Friday’s decline extended Nvidia’s losing streak to three consecutive sessions, bringing its cumulative drop over that period to approximately 6.1%.
The stock finished 14.5% below its October 6 closing high of $239.24, or roughly $836 billion in implied market-value decline based on the current share-count estimate.
Trading volume rose to about 168.4 million shares from 77.6 million on Thursday, up 117%. Nvidia touched an intraday low of $200.92 before recovering to close just $0.26 above its 200-day moving average of $204.38.
Chip Stocks Slide Ahead of Nvidia’s November Earnings
Nvidia’s losses coincided with a broader technology-sector selloff following disappointing quarterly updates from Intel and Amazon.
The Philadelphia Semiconductor Index fell 7.2%, while the Nasdaq Composite declined 2.86%. Intel shares plunged 28.6% after the chipmaker issued a weaker-than-expected outlook amid slowing PC demand.
Amazon’s results also added to concerns about the scale and returns of corporate spending on artificial intelligence infrastructure, an area closely tied to demand for Nvidia’s advanced computing chips.
Nvidia is scheduled to report its fiscal third-quarter 2027 results on November 17, followed by an earnings conference call at 5 p.m. Eastern Time.
