Semiconductor giantNvidia Corporation(NASDAQ:NVDA) briefly passedMicrosoft Corporation(NASDAQ:MSFT) andApple Inc(NASDAQ:AAPL) to become the most valuable company in the world last week.

While the move was short-lived, a drop below the $3 trillion market capitalization also proved to be short-lived for the chip stock.

What Happened: Nvidia hit a market capitalization of $3.33 trillion on June 18 to pass Microsoft and Apple. The move comes around a year after Nvidia first hit a market capitalization of $1 trillion.

Two days later, after the market was closed on June 19 for Juneteenth, Nvidia hit a new all-time...