What's Going On With Nvidia Stock On Thursday?
Portfolio Pulse from Anusuya Lahiri
Nvidia Corp (NASDAQ:NVDA) stock surged to record highs, valuing the company at over $3 trillion. Nvidia plans a ten-for-one stock split on June 7 to attract more individual investors. The company's valuation has soared 147% in 2024 due to strong demand for AI processors. Nvidia added nearly $150 billion in market capitalization on Wednesday. The company is preparing to ramp up investments in Taiwan and is considering Intel Corp (NASDAQ:INTC) as a potential supplier. Nvidia stock gained over 217% in the last 12 months.
June 06, 2024 | 2:14 pm
News sentiment analysis
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POSITIVE IMPACT
Alphabet is one of the companies driving strong demand for Nvidia's AI processors, contributing to Nvidia's valuation surge.
Alphabet's demand for AI processors from Nvidia indicates strong business performance, which could positively impact Alphabet's stock.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 30
POSITIVE IMPACT
Nvidia is considering Intel as a potential supplier to overcome supply chain constraints.
Being considered as a supplier by Nvidia could positively impact Intel's stock as it may lead to new business opportunities.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 40
POSITIVE IMPACT
Investors can gain exposure to Nvidia stock via iShares Core S&P 500 ETF.
As Nvidia's stock performs well, ETFs like IVV that include Nvidia could see positive impacts.
CONFIDENCE 60
IMPORTANCE 30
RELEVANCE 20
POSITIVE IMPACT
Meta Platforms is one of the companies driving strong demand for Nvidia's AI processors, contributing to Nvidia's valuation surge.
Meta's demand for AI processors from Nvidia indicates strong business performance, which could positively impact Meta's stock.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 30
POSITIVE IMPACT
Microsoft is one of the companies driving strong demand for Nvidia's AI processors, contributing to Nvidia's valuation surge.
Microsoft's demand for AI processors from Nvidia indicates strong business performance, which could positively impact Microsoft's stock.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 30
POSITIVE IMPACT
Nvidia's stock surged to record highs, valuing the company at over $3 trillion. The company plans a ten-for-one stock split on June 7 to attract more individual investors. Nvidia's valuation has soared 147% in 2024 due to strong demand for AI processors.
Nvidia's record high valuation and upcoming stock split are likely to attract more investors, driving the stock price up in the short term. Strong demand for AI processors further supports this positive outlook.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
POSITIVE IMPACT
Investors can gain exposure to Nvidia stock via SPDR S&P 500 ETF.
As Nvidia's stock performs well, ETFs like SPY that include Nvidia could see positive impacts.
CONFIDENCE 60
IMPORTANCE 30
RELEVANCE 20
POSITIVE IMPACT
Nvidia is preparing to ramp up investments in Taiwan, highlighting the importance of supplier Taiwan Semiconductor Manufacturing Co.
Nvidia's increased investments in Taiwan and reliance on TSM as a supplier could positively impact TSM's stock.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 40
NEGATIVE IMPACT
Apple was surpassed by Nvidia as the world's second most valuable company. Apple faces weak iPhone demand and stiff competition in China.
Being surpassed by Nvidia and facing weak iPhone demand and competition in China could negatively impact Apple's stock in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 50