markets

Matt Phillips1/7/25

Who will be first to $4 trillion?

The race to become the first $4 trillion company has tightened considerably since Christmas, as Apple shares have sputtered and Nvidia has been boosted by the resumption of the AI trade in early 2025.

In fact, right before Jensen Huang’s speechifying last night, the two tech behemoths closed with a less than 3% difference between the two. Apple closed yesterday at $3.70 trillion and Nvidia at $3.66 trillion (though today NVDA is down over 6% at market close).

This $40 billion difference is mere pocket change for such Goliaths, of course, but the ability to claim bragging rights as the first company to tip the scales at $4 trillion might actually be worth something.

So far, Apple has pioneered hopping trillion-dollar hurdles, being the first to reach valuations of $1 trillion, $2 trillion, and $3 trillion. It’ll be interesting to see if Nvidia could break that streak, though it lost a bit of ground today to Apple, which still dipped 1.1% on Tuesday.

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J. Edward Moreno7/7/26

SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

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