Nvidia Inc fleetingly took the crown as the largest company in the world from Apple Inc (NASDAQ:AAPL, ETR:APC) on Tuesday.
With its shares rising 1.5%, the chipmaker's market cap topped $3.71 trillion, while Apple shares dropped 0.3% and its valuation eased to just under $3.7 trillion.
However, Nvidia shares then proceeded to drop sharply, and the crown was snatched back by Apple.
After just over an hour of trading, shares in the chipmaker had tumbled 5.4% to $141.32.
This appeared to be profit taking but may have been triggered by wider concerns, with fellow tech giants Meta Platforms 3% and Tesla slipping 4%.