[Goldman Sachs: Apple Surpasses NVIDIA in Market Cap, Target Price Raised to $370] According to Deep Tide TechFlow, citing research from Tide Research, on Monday (July 27), Apple rose over 1%, with a market cap reaching $4.94 trillion, surpassing NVIDIA's $4.78 trillion, reclaiming the position as the world's most valuable company. Over the past month, Apple outperformed the Nasdaq 100 Index by 23 percentage points, marking its largest single-month excess return since 2005. On the same day, Goldman Sachs raised its target price from $330 to $370, maintaining a "Buy" rating, citing increased confidence in the iPhone upgrade cycle and AI strategy. Apple is set to release its Q3 earnings report on Thursday, with the market expecting an EPS of $1.89. This market cap reversal occurred against the backdrop of growing investor concerns over the return on massive AI capital expenditures, with Google's FCF turning negative, NVIDIA facing sell-offs, and Apple emerging as a safe haven due to its restrained AI spending.