Apple briefly overtakes Nvidia as the world’s most valuable company following the launch of the iPhone Duo, its first foldable smartphone.
Apple has once again reached the top of Wall Street. The technology giant briefly overtook Nvidia as the world’s most valuable publicly traded company on Friday, 23 October, coinciding with the international launch of the iPhone Duo, its first foldable smartphone. During the trading session, Apple shares reached an all-time high of more than $351, pushing the company’s market capitalisation to approximately $5.13 trillion.
The launch of the new device, which marks Apple’s entry into the foldable smartphone market, generated considerable excitement. With a starting price of $1,999 in the United States and €2,339 in Spain, the iPhone Duo attracted demand that exceeded initial availability forecasts.
In fact, the first allocation of pre-order units sold out within minutes, causing estimated delivery dates to slip rapidly into November and subsequently January 2027. The company also confirmed limited availability at its physical stores on launch day.
Beyond its foldable design, the device represents one of the most significant changes in the iPhone’s recent history. Its internal display, which is 50% larger than that of the iPhone 18 Pro Max, allows users to run applications, consume content and multitask on a larger screen while retaining the portability of a conventional smartphone.
The excitement surrounding the launch was also reflected in the financial markets. Apple’s valuation briefly exceeded £4.58 trillion during the trading session, allowing it to overtake Nvidia, although the latter regained the top position before the stock market closed.
Despite the enthusiasm surrounding the release, it is still too early to determine how significantly the iPhone Duo will influence the company’s financial performance.
Strong initial demand does not, on its own, guarantee long-term commercial success, particularly in a market segment where pricing remains a significant barrier for consumers.
Nevertheless, Apple has succeeded in turning the launch of its first foldable smartphone into one of the biggest technological and financial events of 2026.
