Apple has once again become the world's most valuable company, with its market capitalization reaching approximately $4.9 trillion. This marks the first time in over a year that the tech giant has held this position, having previously been surpassed by Microsoft and Nvidia. The recent surge in Apple's stock is attributed to investors rotating out of capital-intensive AI hyperscalers and into asset-light businesses, viewing Apple as a safer bet amidst growing unease over large AI infrastructure spending by competitors like Microsoft, Alphabet, and Amazon.