<body><p>STORY: Apple overtook Nvidia on Friday to become the world's most valuable company, reshuffling the top ranks of tech heavyweights as investors reassess the outlook for artificial intelligence.</p><p>Apple was last valued at $4.88 trillion as its shares held steady, while Nvidia was roughly at $4.86 trillion, following a 3.5% decline.</p><p>"The apple reclamation of the largest market cap in the equity market is really a sign of the fact that investors are concerned with this level of CapEx that's being used to underwrite the AI explosion and are looking for stocks that are not spending capital investments," says Lynch.</p><p>The shift in the pecking order illustrates that investors are broadening their focus beyond the most obvious beneficiaries of the AI boom, such as Nvidia, which had been at the helm for nearly a year. </p><p>"Why is it working now for Apple? In fairness, they finally have a credible AI plan at their worldwide developer conference recently, they ruled out a new series, AI. It's going to integrate across all these different apps."</p></body>
