The usual phrase of “it's lonely at the top” would seem to apply neatly to stock markets. Aside from a few brief incursions, Apple (AAPL) has been the world’s biggest company between 2011 and 2023. Earlier this year, it lost the title to Microsoft (MSFT), but dislodged the Windows maker to reclaim the crown early last week, following its stellar rally after the Worldwide Developers Conference (WWDC).
However, stock markets experienced their “flippening” of sorts on Tuesday – a term used to describe the hypothetical situation where Ethereum (ETHUSD) replaces Bitcoin (BTCUSD) as the biggest cryptocurrency – when Nvidia (NVDA) surpassed both Big Tech giants to become the world’s most valuable company.
