Nvidia stopped being the world's most valuable company on Monday, losing its spot to Apple, as its stock continues to slide amid a broader rout in chipmakers.
The stock fell almost 5% on Monday, its valuation falling to $4.77 trillion, while Apple's shares climbed about 1%, getting close to a $5 trillion valuation ahead of its earnings call on Thursday. The company is expected to provide information about the impact of global chip shortages, which led the company to raise prices in June.
