Apple currently leads global market capitalization by a substantial margin at approximately $5.2 trillion as of mid-November 2026, ahead of NVIDIA at roughly $3.9–4 trillion, following a rotation out of AI-exposed names and into more defensive large-cap technology holdings. Strong fiscal 2026 fourth-quarter results, including record iPhone and services revenue with 12% year-over-year growth and an EPS beat, have reinforced Apple’s position while its December-quarter guidance of 7–10% revenue expansion signals steady near-term momentum. Trader consensus, reflected in the 89.6% market-implied probability for Apple, incorporates the narrow window to year-end resolution and limited scope for rivals such as NVIDIA to close the gap absent an outsized post-earnings rally on November 17.