Nvidia retakes world’s most-valuable company title from Apple as market cap climbs

Nvidia’s (NASDAQ:NVDA) market capitalization on Tuesday surpassed that of Apple’s (AAPL), allowing the AI chipmaker to once again be billed as the world’s most-valuable publicly traded company.

Nvidia’s (NVDA) Nasdaq-listed shares climbed 2.8% to end at $139.93 each, pushing the market cap to $3.43T. Apple’s (AAPL) market cap finished the session at $3.37T after shares edged up 0.7% to $223.45.

It’s not the first time Nvidia (NVDA) has snatched the top spot in terms of market valuation. In June, Nvidia (NVDA) hit a $3.3T market cap, overtaking Microsoft (MSFT) and Apple (NASDAQ:AAPL).

The fresh achievement was logged before Nvidia (NVDA) joins the Dow Jones Industrial Average (DJI), bumping rival Intel (INTC) from the blue-chip gauge. The changes were slated to take place before trading opens on Friday.

Demand for all-things AI has propelled the chipmaker’s (NVDA) stock up by ~183% in 2024, and by ~206% over the past year. The iPhone maker stock (AAPL) has advanced 16% this year.

In the widely watched SPDR S&P 500 ETF (SPY), Apple (AAPL) and Nvidia (NVDA) are ranked as first and third in terms of weightings. The exchange-trade fund (SPY) and the (SP500) have advanced more than 20% in 2024.

For investors seeking tech-related ETFs, here are a few: (XLK), (VGT), (XLK), and (FTEC).