Apple Vs. Nvidia: Only 1 Adds $1 Trillion In 67 Days In Battle For Mega-Cap Dominance
Portfolio Pulse from Neil Dennis
Nvidia Corporation (NVDA) has seen a meteoric rise, adding nearly $1.1 trillion to its market cap in just 67 days, reaching a valuation of $2.29 trillion. This growth has significantly closed the gap with Apple Inc. (AAPL), which has a market cap of $2.61 trillion. Analysts and investors remain optimistic about Nvidia's valuation due to its earnings potential, especially linked to AI, despite concerns of being overvalued. Meanwhile, Apple's growth has been steady over the years. Nvidia has also become a favorite among retail investors, surpassing Tesla Inc. (TSLA) in popularity.
March 07, 2024 | 8:20 pm
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POSITIVE IMPACT
Nvidia's market cap surged to $2.29 trillion, adding nearly $1.1 trillion in 67 days, driven by optimism around its AI potential and earnings growth.
Nvidia's rapid valuation increase is attributed to its strong earnings potential and AI technology. Its popularity among retail investors and positive analyst outlook contribute to a bullish short-term impact.
CONFIDENCE 90
IMPORTANCE 95
RELEVANCE 100
NEUTRAL IMPACT
Apple Inc. maintains a larger market cap of $2.61 trillion, but Nvidia's rapid growth has narrowed the gap significantly.
Although Apple's market cap remains higher, Nvidia's swift growth brings it closer, potentially impacting investor perception. Apple's steady growth trajectory maintains its strong market position.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 80
NEGATIVE IMPACT
Tesla Inc. has been overtaken by Nvidia as the most popular stock among retail investors, with NVDA purchases exceeding $1 billion over a 10-day period.
Nvidia's surge in popularity among retail investors, surpassing Tesla, could lead to a short-term negative impact on TSLA as investor focus shifts towards NVDA.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70