Apple's market value currently stands at $5.05 trillion, slightly below Nvidia's $5.10 trillion. The company's shares have risen 4% in October, contrasting with Nvidia's 7% decline, as investor sentiment shifts back to consumer hardware.
The launch of the iPhone Duo, priced from $1,999 to over $3,000, has generated significant excitement, with preorders selling out quickly and production targets reportedly increased. Analysts anticipate Apple's earnings report on November 2, with revenue expectations around $113 billion, reflecting a year-over-year growth of 9% to 11%.
The performance of Apple's services segment, which has high gross margins, could further bolster its financial results. As Apple approaches Nvidia's valuation, there is speculation about whether it can regain its status as a market leader, especially with rising hardware demand and strong earnings on the horizon