Nvidia (NVDA+2.90%) has returned to the top as the world’s most valuable publicly traded company ahead of the US presidential election.
The company’s stock rose about 2.4% on Tuesday, giving it a market capitalization of $3.42 trillion, surpassing that of Apple (AAPL+0.75%) Market capitalization is $3.37 trillion. Shares of the iPhone maker rose about 0.4%.
Apple was able to maintain its top spot at market close on Monday after Nvidia briefly took over earlier in the day. In late October, Nvidia temporarily overtook Apple After record stock gains, it ended the day underperforming the tech giants. Nvidia is take over Intel’s seat Weekend Dow Jones Industrial Average.
Nvidia has overtaken both Apple and Microsoft (MSFT+1.56%) for first time In June, it will become the world’s most valuable publicly traded company. Earlier this month, the chipmaker $3 trillion threshold reached first time. it is, First semiconductor company to reach $2 trillion valuation After announcing record fourth-quarter profits in February;
SK Hynix, Nvidia’s South Korea-based chip manufacturing partner, Stock prices soar The company announced Monday that the U.S.-based chipmaker has asked the company to bring forward supply of its next generation of high-bandwidth memory chips by six months.
The U.S. presidential election could have an impact on Nvidia and other chip makers, which have been subject to strict U.S. restrictions on sales to China under both the Trump and Biden administrations.
In October, the head of Dutch chip manufacturing equipment company ASML (ASML+1.93%) he said Expect more pressure on US allies This is to curb chip sales to China.
“If you look at the geopolitical situation, I think it’s clear that the United States will continue to pressure its allies for further restrictions,” said ASML CEO Christophe Fouquet. “The question is: What’s right for the Netherlands? What’s right for Europe?”
The US made the final decision Restrictions on investment in sensitive technology in China US individuals and companies announced late last month. The rules cover three categories of technology: semiconductors, quantum computing, and artificial intelligence. Some investments are prohibited, while others require notification to the U.S. government.
