Around the time Nvidia (NVDA) first cracked $800 and Apple (AAPL) was teetering in the $160s, I joked that the time to trim Nvidia would come when it surpassed Apple in market cap.

The joke being this milestone would trigger algorithms and/or hedge funds to go short-NVDA and long-AAPL in a predictable attempt to showcase cleverness.

Jokes aside, Nvidia did just that on an intraday-basis. Now, the chip-maker is second only to Microsoft (MSFT).

Given the insatiable demand for AI-chips, it is likely only a matter of time before Nvidia achieves the largest market cap in the world.

That said, has NVDA risen too far too fast? At what point is NVDA ahead of itself? With the 10-for-1 stock split happening over the weekend, I imagine there could be a little selling as those “additional shares” are distributed on Monday (6/10/24). Aside from that, hard to find a chink in the armor.