- NVDA
- AAPL
- EBAY
Quick Read
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Apple briefly topped Nvidia at $5.1 trillion on <a href="https://myappsplus.com/the-apple-iphone-18-pro-is-practically-free-this-weekend/” title=”The Apple iPhone 18 Pro is practically free this weekend”>iPhone Duo launch day, but NVDA closed ~$20 billion ahead at $5.094 trillion.
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Nvidia’s revenue grew 105.8% with a P/E of 42, while Apple trades at 45x earnings on just 16.4% revenue growth.
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The foldable iPhone Duo sold out immediately at prices from $1,999 to $3,199, with eBay scalpers asking over $4,000.
For a few hours on Friday, a phone maker was worth more than the company behind the AI boom. Shares of Apple (NASDAQ:AAPL) touched a record intraday high of $351.73. That raised its value to about $5.1 trillion and briefly put it ahead of NVIDIA (NASDAQ:NVDA) on the day its foldable iPhone Duo reached stores.
Nvidia took the lead back by the close. Apple slid 0.14% to $347.73 ($5.074 trillion), and Nvidia fell 0.59% to $210.96 ($5.094 trillion), ending up about $20 billion ahead.
On Thursday, the gap was about $42 billion. What remains uncertain is whether a foldable cycle held back by limited supply justifies the same valuation as the AI chip leader, ahead of Apple’s report on November 2.
Two Opposite Businesses Now Carry the Same Price Tag
Apple sells devices plus the services built on them. Nvidia sells the data center systems behind AI.
Nvidia is growing far faster at a lower multiple. The opposite one-month moves suggest some money is rotating from AI chips toward Apple, although one month is a short window.
Sold-Out Duos Prove Demand but Cap the Holiday Quarter
The Duo starts at $1,999 and tops out at $3,199. Preorders sold out almost immediately, and deliveries slid into late January. On eBay, sellers asked more than $4,000 for the base model.
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Demand clearly tops supply. That shortage limits what Apple can book in the December quarter and drives some revenue into 2027. Even so, the higher entry price should raise the average iPhone selling price, which helps margins.
