Nvidia Becomes Ninth Company To Hit $1-Trillion Market Cap — Which Stock Could Be Next To Join Elusive Club?
Portfolio Pulse from Chris Katje
Nvidia Corporation (NVDA) has joined the $1 trillion market capitalization club after a surge in share price following strong quarterly earnings results and guidance. The company reported Q1 revenue of $7.19 billion, beating estimates, and guided for Q2 revenue to be $11 billion, significantly higher than Street consensus estimates. This led to analysts raising their price targets and predicting a $1 trillion market cap.
May 30, 2023 | 6:20 pm
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Nvidia's strong Q1 earnings and guidance have pushed its market cap to $1 trillion, joining the elite club of companies with such valuation.
Nvidia's Q1 revenue of $7.19 billion beat estimates, and its Q2 revenue guidance of $11 billion is significantly higher than Street consensus estimates. This strong performance has led to analysts raising their price targets and predicting a $1 trillion market cap, which has now been achieved. This positive news is likely to have a short-term positive impact on Nvidia's stock price.
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