Apple Becomes $3 Trillion Company Again, But Nvidia Steals the Moment
Fans of large numbers will be happy to know that Apple became a $3 trillion company again today based on market cap, which is the total value of all of the company's outstanding shares. However, chipmaker Nvidia stole the moment.
Nvidia not only crossed the $3 trillion mark today for the first time ever, but it overtook Apple to become the world's second most valuable company as of market close today, trailing only Microsoft. Nvidia's stock price has more than tripled over the past year amid strong demand for its artificial intelligence (AI) server chips.
Apple became the world's first $3 trillion company in January 2022, and it has recrossed that mark several times since then. However, this is the first time that Apple has dropped to be the world's third most valuable company since 2019.
Apple is expected to unveil its own AI strategy during its WWDC keynote next week, with iOS 18 rumored to feature a smarter version of Siri powered by a large language model (LLM) and many other new AI features. Apple has also reportedly partnered with OpenAI to integrate ChatGPT on the iPhone, but the exact implementation remains to be seen.
AAPL closed at $195.87 today, down from a 52-week high of $199.62.
Popular Stories
Following nearly two years of rumors about a fourth-generation iPhone SE, The Information today reported that Apple suppliers are finally planning to begin ramping up mass production of the device in October of this year. If accurate, that timeframe would mean that the next iPhone SE would not be announced alongside the iPhone 16 series in September, as expected. Instead, the report...
Key details about the overall specifications of the iPhone 17 lineup have been shared by the leaker known as "Ice Universe," clarifying several important aspects of next year's devices. Reports in recent months have converged in agreement that Apple will discontinue the "Plus" iPhone model in 2025 while introducing an all-new iPhone 17 "Slim" model as an even more high-end option sitting...
Apple supply chain analyst Ming-Chi Kuo today shared alleged specifications for a new ultra-thin iPhone 17 model rumored to launch next year. Kuo expects the device to be equipped with a 6.6-inch display with a current-size Dynamic Island, a standard A19 chip rather than an A19 Pro chip, a single rear camera, and an Apple-designed 5G chip. He also expects the device to have a...
Apple typically releases its new iPhone series around mid-September, which means we are about two months out from the launch of the iPhone 16. Like the iPhone 15 series, this year's lineup is expected to stick with four models – iPhone 16, iPhone 16 Plus, iPhone 16 Pro, and iPhone 16 Pro Max – although there are plenty of design differences and new features to take into account. To bring ...
Apple’s iCloud Private Relay service is down for some users, according to Apple’s System Status page. Apple says that the iCloud Private Relay service may be slow or unavailable. The outage started at 2:34 p.m. Eastern Time, but it does not appear to be affecting all iCloud users. Some impacted users are unable to browse the web without turning iCloud Private Relay off, while others are...
