For the first time, Nvidia overtook Apple in terms of capitalization in June of this year, but at the end of October it managed to technically repeat this trick, albeit for a few hours while trading was ongoing on the stock exchange. Yesterday, Nvidia’s advantage turned out to be more long-term, since its capitalization turned out to be higher than Apple’s already at the end of trading in the US. At the same time, both companies rolled back down from their October highs.
Image source: NVIDIA
In particular, according to the results of yesterday’s trading, Nvidia’s capitalization amounted to $3.43 trillion, while for Apple this value dropped to $3.37 trillion after the company’s share price dropped by 0.7%. In this case, Nvidia shares rose in price by 2.8% to $139.91 per share, and after the close of the main session they continued their growth and crossed the $140.17 mark.
Nvidia shares have more than tripled in price over the past year, and are already close to repeating this result this year. This cannot be said about Apple shares; they have risen in price by about 17% since the beginning of the year, and in general the company is just beginning to develop the market for artificial intelligence technologies in mass perception. Microsoft remains in third place in the list of the most valuable public companies in the world with its capitalization at $3.1 trillion. It is OpenAI’s largest investor and an important customer of Nvidia, so it is also closely connected to the artificial intelligence technology market. Last week, Apple published a forecast for the current quarter, which disappointed investors, which created the conditions for a decline in capitalization. Nvidia has not yet published its quarterly report, but will do so this month, and corresponding expectations are already fueling demand for its shares.