Nvidia's Meteoric Rise Brings It Within Striking Distance Of Apple's Market Value: Will Jensen Huang-Led Chip Giant Become World's Second Most Valuable Company?
Portfolio Pulse from Rounak Jain
Nvidia Corp. (NASDAQ: NVDA) is closing in on Apple Inc. (NASDAQ: AAPL) to become the world's second most valuable company by market capitalization. Nvidia's market cap has surged to $2.69 trillion, while Apple's stands at $2.94 trillion. Nvidia's stock has increased by over 127% in the first five months of 2024, compared to Apple's 3.6% gain. Analysts are optimistic about Nvidia's continued growth, with some setting a target price of $1,400 for its stock.
June 01, 2024 | 1:45 pm
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Nvidia's market capitalization has surged to $2.69 trillion, closing in on Apple's $2.94 trillion. Nvidia's stock has increased by over 127% in the first five months of 2024. Analysts are optimistic about Nvidia's continued growth, with some setting a target price of $1,400.
Nvidia's rapid stock price increase and strong market capitalization growth indicate strong investor confidence and potential for further gains. Analysts' positive outlook and high target price further support this trend.
CONFIDENCE 90
IMPORTANCE 100
RELEVANCE 100
NEUTRAL IMPACT
Apple's market capitalization stands at $2.94 trillion, with its stock gaining 3.6% in the first five months of 2024. Despite a slower growth compared to Nvidia, analysts believe Apple's upcoming AI announcements could boost its stock performance.
Apple's slower stock growth compared to Nvidia may concern some investors, but upcoming AI announcements could provide a boost. Analysts have mixed opinions on Apple's future performance.
CONFIDENCE 80
IMPORTANCE 80
RELEVANCE 100