Nvidia stock closed as the largest U.S. company by market value on Tuesday. The stock edged higher as investment bank Jefferies added the chip maker to its list of highest-conviction picks. Nvidia shares rose 2.

Nvidia reclaims top spot as the most valuable publicly traded company with a $3.45 trillion market cap, surpassing Microsoft.

FactSet estimates see first-quarter earnings of $0.73 per share and revenue of $43.3 billion, up 66 percent from a year ago. While that sounds strong in a vacuum, it’s a slowdown from the triple-digit expansion Nvidia posted in 2024, when revenue was up 262 percent year-over-year the same quarter.