Market values continue to fluctuate at the top of Wall Street, and for the first time ever, a session finished with three companies worth $US3 trillion or more.
First, Apple became the first $US3 trillion company, then it fell back and was overtaken by Microsoft, which has remained at the peak for several months.
Wednesday saw two $US3 trillion companies at once, as Nvidia continued its surge, and Apple’s recent rebound saw it regain the record level.
Apple’s recent rebound saw it finish at $US3.004 trillion. Nvidia’s market cap surpassed Apple’s at $US3.005 trillion during intraday trading on Wednesday, as investors piled into the stock ahead of the 10-for-1 split after trading today (Thursday) and starting first up Friday.
At the close, Nvidia was worth $US3.01 trillion after a 5% price rise on the day, and Apple shares closed at $US3 trillion after a rise of nearly 0.8%.
Ahead lies Microsoft, with a value of $US3.15 trillion.
Nvidia’s market value has risen by $US1 trillion since late April alone, and they have gained around 133% so far this year.
It’s not often that another record ending for Nasdaq and the S&P 500, as we saw Wednesday, has been overshadowed by other news. But two companies reaching the $US3 trillion mark on the same day, and one for a second time, is certainly big news.
Next, the Nvidia split: where will the share price and market value end by the close on Friday?