The global rankings of the world's largest companies saw a major shake-up during the week ending July 18, 2026, as SpaceX suffered the steepest decline among the world's most valuable firms, dropping from seventh place to the bottom of the top 10.

At the same time, the race for the world's highest market capitalization intensified after Apple overtook Nvidia to reclaim the top position, according to data from CompaniesMarketCap.

Apple Returns to the Top

Apple regained its status as the world's most valuable company after surpassing Nvidia, which had held the top spot since May 2025.

Nvidia's shares fell 3.7%, reducing its market capitalization to $4.8 trillion, while Apple gained 0.4%, lifting its valuation to approximately $4.9 trillion.

Alphabet ranked third with a market value of $4.223 trillion, followed by Microsoft at $2.925 trillion and Amazon at $2.659 trillion.

TSMC maintained sixth place with a market capitalization of $2.066 trillion.

Meanwhile, Broadcom climbed to seventh with $1.764 trillion, despite a slight decline in its valuation, benefiting from SpaceX's much steeper losses.

Saudi Aramco ranked eighth at $1.718 trillion, followed by Meta Platforms in ninth with $1.639 trillion.

SpaceX fell to tenth place after its valuation dropped to $1.633 trillion, down from seventh place the previous week.

SpaceX Records the Largest Weekly Decline

The most significant development of the week was the sharp decline in SpaceX's market valuation.

The company lost approximately $281 billion in value, falling from $1.914 trillion to $1.633 trillion in just one week.

The decline reshuffled the lower half of the rankings, allowing Broadcom, Saudi Aramco, and Meta Platforms to move ahead of the aerospace company.

Apple Leads Weekly Gains

Apple posted the strongest performance among the world's largest companies, adding roughly $270 billion to its market capitalization and reclaiming the global lead.

Nvidia, meanwhile, lost nearly $197 billion in market value, narrowing the gap between the two technology giants and ending its reign as the world's largest listed company.

Notable Shifts in the Rankings

One of the week's biggest surprises was SpaceX's dramatic fall from seventh to tenth place, making it the smallest company among the world's ten most valuable firms after losing more than a quarter of a trillion dollars in market value.

Broadcom's rise also highlighted how ranking changes can result from relatively smaller losses rather than substantial gains.

At the top of the list, Apple reclaimed first place while Nvidia slipped to second.

Saudi Aramco remained the only non-technology company in the global top 10, as artificial intelligence, semiconductor, and technology companies continued to dominate the rankings.

U.S. Companies Continue to Dominate

American companies maintained their overwhelming presence in the global rankings, accounting for eight of the world's ten most valuable companies.

The remaining two spots were held by Taiwan's TSMC and Saudi Aramco.

Despite continued investor enthusiasm for artificial intelligence and semiconductor companies, SpaceX's sharp decline demonstrated that even the world's largest technology and private aerospace firms remain vulnerable to rapid valuation swings.