Apple tops Nvidia as world's most valuable company
AAPL•Apple retakes top spot from Nvidia
Apple AAPL.O overtook Nvidia NVDA.O to become the world's most valuable company, with a market value of about $4.88 trillion versus NVDA's $4.86 trillion after the chipmaker declined 3.5%.
The iPhone maker was trading marginally up at $334.46 in early trading.
The move marks Apple's first return to the top spot since April last year.
Earlier on Friday, HSBC upgraded Apple to "buy" from "neutral" and raised its price target to $366 from $260, representing a ~10% upside to the stock's last close.
As of the last close, AAPL was up 22.58% year to date.
