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Apple Becomes $3 Trillion Company Again, But Nvidia Steals the Moment

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Fans of large numbers will be happy to know that Apple became a $3 trillion company again today based on market cap, which is the total value of all of the company's outstanding shares. However, chipmaker Nvidia stole the moment.

Apple vs Nvidia
Nvidia not only crossed the $3 trillion mark today for the first time ever, but it overtook Apple to become the world's second most valuable company as of market close today, trailing only Microsoft. Nvidia's stock price has more than tripled over the past year amid strong demand for its artificial intelligence (AI) server chips.

Apple became the world's first $3 trillion company in January 2022, and it has recrossed that mark several times since then. However, this is the first time that Apple has dropped to be the world's third most valuable company since 2019.

Apple is expected to unveil its own AI strategy during its WWDC keynote next week, with iOS 18 rumored to feature a smarter version of Siri powered by a large language model (LLM) and many other new AI features. Apple has also reportedly partnered with OpenAI to integrate ChatGPT on the iPhone, but the exact implementation remains to be seen.

AAPL closed at $195.87 today, down from a 52-week high of $199.62.

Tags: AAPL, Nvidia

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Top Rated Comments

Z
ZeroInspo
26 months ago

Looks like I should buy some Nvidia stock.
Ah yes, buy high sell low, classic and solid investment strategy.
Score: 24 Votes (Like | Disagree)
cjsuk Avatar
cjsuk
26 months ago
NVidia will tank shortly and the industry will be normalised. Watch what happens over the whole AI industry fall out. The big investors are starting to move out already because they rode the gains. Now regulation, non-delivery and over-promise is going to kick in. This is the standard maturity curve for a new technology, the Gartner Hype Cycle

MacRumors content image

We are right at supplier proliferation.

We've done the whole "AI" thing a couple of times before and it was a bust before. It just has money and tech companies behind it this time.
Score: 22 Votes (Like | Disagree)
I
Isengardtom
26 months ago

Looks like I should buy some Nvidia stock.
too late in my opinion
Score: 13 Votes (Like | Disagree)
Dulcimer Avatar
Dulcimer
26 months ago
A lot of butthurt AAPL investors here facing the reality that Vision Pro is a flop; iPhone sales stagnating or tanking in some markets (without discounts, anyway); focus on mediocre services like mobile gaming and news aggregation; getting whipped around by the EU; and absolutely no AI strategy.

Maybe Apple should’ve bought some more Nvidia data center GPUs?
Score: 9 Votes (Like | Disagree)
mdriftmeyer Avatar
mdriftmeyer
26 months ago

Nvidia is the future of AI and Robots!
No it's not. It's got heavy competition with AMD who has a far deeper and broader IP offering line up. This run up with Nvidia will be short lived.

Several short positions have been already placed on the stock $350/share lower than current pricing.

As TSMC ramps up the MI300 series including the very soon 325 and later 350 early 2025 along side the 300A and 300X all of which offer better cost benefits and are fueling the largest supercomputers on the planet Nvidia will drop hard.

Its position is unsustainable.

Tesla will soon be lucky to be a $300 billion stock once touted to be $2 trillion and beyond.
Score: 9 Votes (Like | Disagree)
Justin Cymbal Avatar
Justin Cymbal
26 months ago
It’s hard to believe, but it has finally happened!

I currently have 4 shares of Nvidia and I bought them a while ago so I’m definitely happy with my investment so far

Nvidia is a great company and it won’t be long before Nvidia surpasses Microsoft as the largest company in the US by market capitalization
Score: 8 Votes (Like | Disagree)
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