Changes in US stocks | The company with the highest market capitalization in the world changed hands! Nvidia (NVDA.US) fell more than 3% in market capitalization and was overtaken by Apple (AAPL.US)

The Zhitong Finance App learned that on Friday, as AI technology stocks continued to be sold off, Apple (AAPL.US) overtook Nvidia (NVDA.US) in market capitalization and returned to number one in the world after a lapse of 3 months. Apple continued to rise strongly in the near future, and its market capitalization rose to about 4.90 trillion US dollars, regaining the number one position in the world in market capitalization. It is worth noting that Apple's cumulative increase since the beginning of the year has reached 22.8%; while Nvidia's opening fell by more than 3%, further shrinking its market value to about 4.84 trillion US dollars.

The analysis points out that Apple did not join the AI arms race, but instead drew on the business ideas of John D. Rockefeller's Standard Oil Company. At least judging from stock price performance, this strategy is working. According to many Wall Street people, since Apple chose to control AI spending, it has become an “anti-AI transaction.” This strategy is in stark contrast to other members of the “Big Seven Tech”. Companies such as Alphabet, Microsoft, Amazon, and Meta are investing hundreds of billions of dollars in AI.

Apple's current approach is quite similar to Rockefeller's strategy when it was founded in the mid-19th century. Rockefeller knows that oil drilling is extremely risky, so he made other speculators bear the high cost of exploration, while focusing on the refining process himself. Today, Apple is also letting other tech giants bear huge investment in AI research and development, waiting for the industry landscape to gradually become clear, then select the best models from them and quickly connect to their own ecosystem.