Tech giant was first to $1tn, $2tn and $3tn landmarks but faces strong competition from AI chipmaker on next market cap milestone
Apple faces a strong challenge from AI chip manufacturer Nvidia in the race to be the first $4 trillion company. Photograph: Indranil Aditya/Bloomberg
Apple was the first US trillionaire and the first US company to cross the $2 trillion and $3 trillion thresholds. Nvidia overtook Apple as the world’s most valuable company on several occasions this year, but the iPhone maker has regained top spot, breaking out to fresh all-time highs and a market capitalisation of $3.67 trillion – just 9 per cent below the $4 trillion threshold.
Suspicions regarding investor froth tend to focus on Nvidia more than Apple, courtesy of the AI giant’s astonishing share price gains . But with a forward price/earnings ratio of 34, Nvidia is actually trading well below its three- and five-year averages.‘If you charge someone €400 they are immediately p*ssed off.
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