on Wednesday after shares rose over 5%. At market close, Nvidia had a market value of $3.019 trillion, compared to Apple’s $2.99 trillion. As of Wednesday, Microsoft leads as the most valuable publicly traded company, with a market cap of $3.15 trillion.in May and have seen significant growth since last year. The company boasts an estimated 80% market share in AI chips for data centers, attracting substantial spending from major cloud vendors.
Meanwhile, Apple shares have only risen about 5% this year, with sales growth stalling in recent months. In its most recent quarterly earnings report, Apple reported a 4% drop in overall sales and a 10% decline in iPhone sales compared to the year-ago period. Apple faces strategic concerns regarding demand in China, manufacturing, and mixed reactions to its new virtual reality headset, Vision Pro.
Nvidia has exhibited greater stock volatility than Apple. Founded in 1991, the company initially focused on gaming hardware for 3D computer games. More recently, it has ventured into cryptocurrency mining chips and cloud subscription services. Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
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Nvidia tops $3trn in market value, leapfrogging AppleThe last time Nvidia was worth more than Apple was in 2002, five years before the first iPhone was released.
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