Goldman Sachs: Apple’s market value overtakes Nvidia again, raises its target price to $370

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Deep Tide TechFlow message, according to tide researchers, on Monday (July 27) Apple rose by more than 1%, with a market capitalization of $4.94 trillion, surpassing Nvidia’s $4.78 trillion, and returning to the world’s largest by market cap. Over the past month, Apple outperformed the Nasdaq 100 Index by 23 percentage points, recording the largest monthly excess return since 2005. The same day, Goldman Sachs raised its target price from $330 to $370, maintaining a Buy rating, citing increased confidence in iPhone replacement cycles and its AI strategy. Apple will release its Q3 earnings report on Thursday, and the market expects EPS of $1.89. This reversal in market cap happened amid rising investor concerns about the return on investment from massive AI capital expenditures: Google’s FCF turned negative, Nvidia was sold off, and Apple—due to its restrained AI spending—became a safe haven.
AAPL0.22%
NVDA-1.32%
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