Nvidia (NVDA) Briefly Becomes Most Valuable Company Ever
Leading chipmaker Nvidia (NVDA) has become the most valuable company ever, after briefly beating Apple’s record early Thursday morning. Before markets closed on Tuesday, the company’s market cap sat at $3.92 trillion, beating Apple’s 2024 record of $3.915 trillion. Upon markets closing at 1 pm, the chipmaker fell back to $3.89 trillion.
During Thursday’s shortened trading session ahead of the July Fourth holiday, shares of the AI chipmaker rose more than 2%. Prior to Nvidia’s recent surge, Microsoft (MSFT) was the reigning most valuable company in the world. Microsoft is currently the second-most valuable company on Wall Street, with a market capitalization of $3.7 trillion. Its shares rose Thursday by 1.7% to $499.56.
Nvidia (NVDA) shares hit a new all-time high last week amid an AI stock surge, and investors are bullish that the climb will continue.. Currently trading around $159, analysts still see the stock rising further, perhaps another 20% before the summer is over. Furthermore, Wedbush analyst Dan Ives said Thursday he expects Nvidia to hit a $4 trillion market capitalization this summer and potentially $5 trillion over the next 18 months. “We believe tech stocks will have a very strong second half of the year,” he said in a note to clients Thursday. “Our bullish view is that investors are still underestimating the tidal wave of growth on the horizon from the $2 trillion of spending over the next 3 years coming from enterprise and government spending around AI technology and use cases.”
Nvidia Continues to Dominate, Stock and Market Cap to Surge Further?
Nvidia has played a leading role in fostering some of the most critical changes in various critical market areas as hyperscalers remained and continue to over-rely on the firm in the AI chip sector when prices are still high. The value of the Nvidia market cap reflects this positioning strategy, which as of July 2 will be worth $3.7 billion, and such a figure helped propel various major growth plans across the sector. Sustained demand from hyperscalers who require Nvidia’s advanced technology for AI and machine learning operations drove this market cap climb, and these partnerships optimized multiple essential operational frameworks.
Also Read: Nvidia (NVDA) Has Another ATH In It Before Summer Ends
“When the first company crossed a trillion dollars, it was amazing. And now you’re talking four trillion, which is just incredible. It tells you that there’s this huge rush with AI spending and everybody’s chasing it right now,” said Joe Saluzzi, co-manager of trading at Themis Trading. Furthermore, last week, Loop Capital analyst Ananda Baruah raised his price target on Nvidia stock to $250, the highest of Wall Street analysts tracked by Yahoo Finance. The new price target suggests Nvidia’s market cap could soar to $6 trillion from its current $3.6 trillion level. “While it may seem fantastic that NVDA fundamentals can continue to amplify from current levels, we remind folks that NVDA remains essentially a monopoly for critical tech, and that it has pricing (and margin) power,” Baruah wrote in a note to investors
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Nvidia (NVDA) Briefly Becomes Most Valuable Company Ever
Leading chipmaker Nvidia (NVDA) has become the most valuable company ever, after briefly beating Apple’s record early Thursday morning. Before markets closed on Tuesday, the company’s market cap sat at $3.92 trillion, beating Apple’s 2024 record of $3.915 trillion. Upon markets closing at 1 pm, the chipmaker fell back to $3.89 trillion.
During Thursday’s shortened trading session ahead of the July Fourth holiday, shares of the AI chipmaker rose more than 2%. Prior to Nvidia’s recent surge, Microsoft (MSFT) was the reigning most valuable company in the world. Microsoft is currently the second-most valuable company on Wall Street, with a market capitalization of $3.7 trillion. Its shares rose Thursday by 1.7% to $499.56.
Nvidia (NVDA) shares hit a new all-time high last week amid an AI stock surge, and investors are bullish that the climb will continue.. Currently trading around $159, analysts still see the stock rising further, perhaps another 20% before the summer is over. Furthermore, Wedbush analyst Dan Ives said Thursday he expects Nvidia to hit a $4 trillion market capitalization this summer and potentially $5 trillion over the next 18 months. “We believe tech stocks will have a very strong second half of the year,” he said in a note to clients Thursday. “Our bullish view is that investors are still underestimating the tidal wave of growth on the horizon from the $2 trillion of spending over the next 3 years coming from enterprise and government spending around AI technology and use cases.”
Nvidia Continues to Dominate, Stock and Market Cap to Surge Further?
Nvidia has played a leading role in fostering some of the most critical changes in various critical market areas as hyperscalers remained and continue to over-rely on the firm in the AI chip sector when prices are still high. The value of the Nvidia market cap reflects this positioning strategy, which as of July 2 will be worth $3.7 billion, and such a figure helped propel various major growth plans across the sector. Sustained demand from hyperscalers who require Nvidia’s advanced technology for AI and machine learning operations drove this market cap climb, and these partnerships optimized multiple essential operational frameworks.
Also Read: Nvidia (NVDA) Has Another ATH In It Before Summer Ends
“When the first company crossed a trillion dollars, it was amazing. And now you’re talking four trillion, which is just incredible. It tells you that there’s this huge rush with AI spending and everybody’s chasing it right now,” said Joe Saluzzi, co-manager of trading at Themis Trading. Furthermore, last week, Loop Capital analyst Ananda Baruah raised his price target on Nvidia stock to $250, the highest of Wall Street analysts tracked by Yahoo Finance. The new price target suggests Nvidia’s market cap could soar to $6 trillion from its current $3.6 trillion level. “While it may seem fantastic that NVDA fundamentals can continue to amplify from current levels, we remind folks that NVDA remains essentially a monopoly for critical tech, and that it has pricing (and margin) power,” Baruah wrote in a note to investors
Read More
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