Can Apple Top Nvidia? iPhone Duo and Nov. 2 Earnings Hold the Key
Key takeaways
- Apple’s record close and new iPhone Duo launch bring it close to Nvidia’s market value, but the upcoming earnings will determine if the rally continues.
- Apple market value $5.082 trillion
- Nvidia market value $5.124 trillion
- Gap $42 billion
What happened
Apple Inc. (AAPL) closed at a record $348.22 on Thursday, bringing its market value to $5.082 trillion—just $42 billion behind Nvidia (NVDA) at $5.124 trillion. The company’s new iPhone Duo began selling today after pre‑orders sold out, and Apple’s fiscal fourth‑quarter earnings are set to be released on Nov. 2. Analysts project earnings per share of $1.98 on revenue of $113.23 billion, with guidance for 9–11% revenue growth and a 47–48% gross margin for the quarter.
Why it matters
Apple’s narrowing gap to Nvidia highlights its growing valuation momentum and signals investor confidence in its AI strategy and new product launches. The iPhone Duo’s launch could boost iPhone sales in the December quarter, while the upcoming earnings release will test the company’s ability to sustain high margins…
Short-term and longer-term
Short-term. Over the next few days, watch for the Nov.
Longer-term. For the next few months, the focus will be on whether Apple can sustain its high gross margins and drive revenue growth into the 9–11% range.