Apple is closing in on Nvidia for the market cap lead, with its stock up 26% so far this year, more than double the market's return, and its market cap just passing $5 trillion. Apple's revenue is accelerating for a third straight year, with analysts expecting 15% growth for fiscal 2026 and trailing adjusted net margin topping 20% for the first time since 2012. Nvidia shares are up only 15% this year despite blowout financial results, with a market cap of $5.2 trillion and a valuation of less than 13 times next year's earnings. The author suggests Apple could pass Nvidia in market cap in the final two months of the year, but sees Nvidia's revenue and margin sustainability as the biggest question.
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Related tickers and likely impact
NVDA
▼ Likely negativeNvidia
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Semiconductors |
| Market cap | $5.1T |
| Close on 10/28/2026 | 215.39 |
| Change that session | -1.17% |
AAPL
• NeutralApple Inc.
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Technology Hardware, Storage & Peripherals |
| Market cap | $5.1T |
| Close on 10/28/2026 | 343.86 |
| Change that session | -0.93% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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