12:53 PM EST, 11/04/2024 (MT Newswires) -- Nvidia ( NVDA ) has overtaken Apple ( AAPL ) again as the world's most valuable company, with the chipmaker's market capitalization on Monday topping Apple ( AAPL ) by roughly $30 billion in midday trading.

Nvidia's ( NVDA ) market cap increased to about $3.38 trillion, with each of its roughly 24.5 billion shares fetching about $137.96, up 1.9%. Apple ( AAPL ), by comparison, has around 15.2 billion shares, which were recently trading down 0.4% at $221.98 apiece, reducing the iPhone maker's market cap to around $3.35 trillion.

Nvidia ( NVDA ) was supported by the announcement from S&P Dow Jones Indices last week that it will replace Intel ( INTC ) in the 30-stock Dow Jones Industrial Average because Nvidia ( NVDA ) provides a "more representative exposure to the semiconductors" sector.

The changes in the Dow Jones benchmark index, which also will see paint maker Sherwin Williams ( SHW ) replacing chemicals producer Dow (DOW), are scheduled to take effect with the start of Friday's regular session trading.

Price: 137.40, Change: +2.00, Percent Change: +1.48