Nvidia Retakes World’s No. 1 Market Cap Spot From Apple After Four Days
Summary
- Nvidia regained the world’s No. 1 market capitalization ranking after its closing market capitalization reached $4.86 trillion, surpassing Apple.
- Apple shares fell 7.35% after the company forecast limited revenue growth in the July-September period, leaving its market capitalization at $4.54 trillion.
- Technology shares including Alphabet, Microsoft and Amazon also advanced in New York trading that day.
Forecast Trend Report by Period
Nvidia retook the title of the world’s most valuable company from Apple after four days.
Nvidia rose 2.93% to close at $200.75 in regular trading in New York on August 31. Apple fell 7.35% to $308.91.
Based on closing prices, Nvidia’s market capitalization stood at $4.86 trillion, surpassing Apple’s $4.54 trillion and restoring its No. 1 ranking.
On August 27, Apple had reclaimed the top market-cap spot from Nvidia for the first time in about 15 months.
Apple shares came under pressure after the company said in earnings released a day earlier that revenue growth in the July-September period would be limited by supply constraints.
Elsewhere in New York trading, technology stocks including Alphabet, Microsoft and Amazon, the world’s three biggest cloud companies, also rose.
Lee Su, Hankyung.com reporter, 2su@hankyung.com
Korea Economic Daily
hankyung@bloomingbit.ioThe Korea Economic Daily Global is a digital media where latest news on Korean companies, industries, and financial markets.