Nvidia stock staged a comeback on Tuesday after a multi-day sell-off that cost the US chipmaker its crown as the world’s most valuable public company. On June 18, the chipmaking giant’s market capitalization hit $3.34 trillion, surpassing Microsoft’s to become the world’s most valuable company. Despite the rally in Nvidia’s shares on Tuesday, Nvidia’s market cap now stands at $3.10 trillion, falling to third place, behind Microsoft (MSFT) and Apple (AAPL), which have market caps of $3.35 trillion and $3.21 trillion, respectively. Nvidia’s stock has been on a tear, soaring more than 161% since January. - I-Hwa Cheng/AFP/Getty ImagesNvidia is a member of the so-called Magnificent Seven, the mega-cap tech companies whose shares greatly outperformed the broader US stock market rally last year.

Source: CNN June 25, 2024 13:13 UTC