Wall Street milestone: Three companies surpass $3 trillion mark

By Glenn Dyer | More Articles by Glenn Dyer

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?

About Glenn Dyer

Glenn Dyer has been a finance journalist and TV producer for more than 40 years. He has worked at Maxwell Newton Publications, Queensland Newspapers, AAP, The Australian Financial Review, The Nine Network and Crikey.

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