Nvidia Quietly Overtakes Apple To Become The Second Most Valuable US Company As Stocks Soar 2800% In Five Years
Portfolio Pulse from Zaheer Anwari
Nvidia has overtaken Apple to become the second most valuable public U.S. company with a market cap of $3.01 trillion. Nvidia's stock has surged 2800% in five years, driven by its dominance in the AI chip market. Apple has faced declining iPhone sales. Nvidia plans a 10-1 stock split on June 10.
June 06, 2024 | 5:55 pm
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NEGATIVE IMPACT
Apple has been overtaken by Nvidia as the second most valuable U.S. company, with a market cap of $3.00 trillion. Apple faces challenges with declining iPhone sales, which may impact its stock performance.
Apple's decline in iPhone sales and being overtaken by Nvidia in market cap could negatively impact its stock price in the short term. The modest stock performance this year further supports this outlook.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 80
POSITIVE IMPACT
Nvidia has become the second most valuable U.S. company with a market cap of $3.01 trillion, driven by its dominance in the AI chip market. The company announced a 10-1 stock split for June 10, aiming to make shares more accessible.
Nvidia's significant market cap milestone and the announcement of a 10-1 stock split are likely to positively impact its stock price in the short term. The company's dominance in the AI chip market and strong financial health further support this positive outlook.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100