On Tuesday, NVIDIA became the world’s largest publicly traded company by market capitalization, surpassing Apple. While the company had reached this milestone several times during trading hours, this marks NVIDIA’s first time securing the top spot based on closing figures.
NVIDIA closed at $139.91 on the Nasdaq stock exchange, up 2.84% (+$3.86) from the previous trading day. Its market capitalization now stands at $3.432 trillion, making it the world’s largest company by market cap.
Apple, now in second place, also saw a rise of 0.65% (+$1.44), closing at $223.45, with a market cap of $3.377 trillion. Although Apple recorded a solid 17% increase in stock price this year, NVIDIA’s stock nearly tripled during the same period, outpacing the market caps of Microsoft, Alphabet, Amazon, and Apple to take the lead.
In June of this year, NVIDIA first overtook Apple in market capitalization. After holding third place for some time, NVIDIA moved ahead of Microsoft and Apple during trading but later surrendered some of its summer gains amid concerns over an “AI bubble.”
On Friday, NVIDIA replaced Intel in the S&P Dow Jones Index, which consists of 30 blue-chip stocks representing major sectors of the U.S. economy.
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