Fans of large numbers will be pleased to learn that Apple has once again reached a $3 trillion market cap, the total value of all its outstanding shares. However, chipmaker Nvidia stole the spotlight.
Nvidia not only crossed the $3 trillion mark for the first time today but also surpassed Apple to become the world’s second most valuable company by market close, trailing only Microsoft. Nvidia’s stock price has more than tripled over the past year due to strong demand for its AI server chips.
Apple became the world’s first $3 trillion company in January 2022 and has reached that milestone several times since. However, this is the first time Apple has fallen to the third most valuable company globally since 2019.