Apple, once the world’s most valuable company, was the first public company to hit valuations of $1 trillion (August 2, 2018), $2 trillion (August 19, 2020), and $3 trillion (January 3, 2022), but it looks like the current world’s most valuable company, Nvidia, is poised to be the first to $4 trillion.
Top Three Market Caps:
- Nvidia – $3.853 trillion
- Microsoft – $3.697 trillion
- Apple – $3.064 trillion
Martin Baccardax for Barron’s:
Nvidia crossed the $1 trillion mark in June 2023, shortly after it effectively fired the starting gun on a race to benefit from demand linked to artificial intelligence with a revenue forecast for its powerful chips that obliterated Wall Street forecasts. It took another 262 days to reach $2 trillion, but only 96 days to get past $3 trillion, a level it reached on June 5, 2024.
Now, $4 trillion is in sight. The AI chipmaker, in fact, could reach that threshold in just a few weeks, given the stock’s daily average gain of around 0.8% over the past month, based on data from FactSet. Gains that size would lift Nvidia’s current value past the $4 trillion mark in just five trading days.
With a current market value of around $3.8 trillion, Nvidia’s weighting in the S&P 500 is about 6.9%, compared with about 6.7% for Microsoft and 5.4% for Apple. While some investors are concerned about Nvidia’s influence over the broader market, even that 6.9% underplays Nvidia’s valuation.
If Nvidia were to top the $4 trillion mark, it would represent around 13% of the benchmark’s near $52 trillion in total market capitalization.
MacDailyNews Take: The gulf between those who could see the GenAI revolution coming and those who couldn’t grows wider with each passing day.
Please help support MacDailyNews — and enjoy subscriber-only articles, comments, chat, and more — by subscribing to our Substack: macdailynews.substack.com. Thank you!
Support MacDailyNews at no extra cost to you by using this link to shop at Amazon.
[Thanks to MacDailyNews Readers “Fred Mertz” and “James W.” for the heads up.]
FSCK YOU TIM COOK!!!
Seems to me market cap is a meaningless statistic. It generally signifies a company whose best days are behind it, a company that is too big to care about customers, or details, or the long term value of its products. Apple is neither the best nor the worst in consumer experience. Unfortunately brainless investors/gamblers are so obsessed with their overinflated overhyped stock picks that don’t offer sustainable value, so it’s natural that shallow media will continue to report superficial BS events as if wise shareholders wanted or needed to know how overpriced wall street has become. this site cannot explain why they care sooooo much about market cap, nor why they think ai will do anything good for the companies that continue to hype it without any tangible results to show for it.
Is the IPO valuation for this site a positive number?
It hurts seeing MS pull ahead again, but we’re still a long way from when it could buy 5% of AAPL for chump change (if only it kept its stake…)
Remember when Apple was the most valued company?
Who cares? I buy Apple products for quality and value. Not because of what Wall St thinks this month.