Nvidia (nvda) riding the crest of a wave in the tech industry.

 

Something rather special happened on the world’s stock markets a few days ago. A company called Nvidia (NVDA) overtook Apple (AAPL) to become the world’s second-most valuable company after achieving a $3 trillion (£2.4 trillion) valuation. In first place at the time was Microsoft (MSFT) with a valuation of $3.15 trillion. As of the time of writing, Apple has now regained the number two spot, with Nvidia falling off a bit and going back down to a mere $2.97 trillion. This has probably been due to some profit taking by certain stockholders, namely those who reckoned that the high valuation gave them an opportunity to cash out their profits. There might also have been some who thought that number two place was a bit hyped and would not last. In having a mini sell-off they then proceeded to fulfil their own estimations.