Stock market today: Nvidia's market cap slips below Microsoft and Apple June 21, 2021

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The AI darling Nvidia (NVDA) is having a down day. But the intensity of the fall highlights just how high the stock has climbed, and how closely Wall Street's most valuable companies are competing against one another for the coveted top spot.
Shares of the chipmaker fell more than 2% Friday morning. But the tech-heavy Nasdaq Composite (^IXIC) climbed just over the flat line during the last hour of morning trading, trimming back earlier losses.
After closing at a record $135 per share earlier this week, Nvidia's investors took profits and gave up some ground, offering the AI-fueled rally a breather. After briefly holding the title as the market's most valuable company, Nvidia slipped behind its rivals, dropping to a market cap of $3.14 trillion.
Meanwhile the other players vying for the No. 1 position rose slightly. Shares of Microsoft (MSFT) gained 0.5% Friday, giving the company a market cap of $3.32 trillion. Apple (AAPL) shares increased by roughly the same amount, with the iPhone maker's market cap standing at 3.24 trillion.
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