Nvidia may soon surpass Apple to become the 2nd most valuable company in the world

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Nvidia, the titan behind the AI revolution, is on the brink of surpassing Apple to become the second-most valuable company in the world. This potential shift in rankings is the result of the increasing demand for Nvidia’s high-end chips. Microsoft sits at the top of the leaderboard with a market cap of around $3.2 trillion.

 

Nvidia’s market valuation has seen a remarkable surge, nearly tripling in value over the past year to a staggering $2.72 trillion. This rapid growth has been fueled by the widespread adoption of artificial intelligence applications, many of which rely heavily on Nvidia’s advanced chips.

 

In contrast, Apple, once the undisputed leader, has been seeing a decline in demand for its iPhones in China amid rising competition. The tech giant’s valuation currently stands at $2.93 trillion, but Nvidia’s rapid ascent could soon change this.

 

Nvidia’s success story extends beyond just AI. The company has managed to ride the wave of growth in various sectors, starting with gaming, then cryptocurrency, and now AI. This ability to adapt and innovate has resulted in explosive growth.

 

The impact of Nvidia’s rise is evident in the stock market as well. The company has been instrumental in driving U.S. stocks to record highs, accounting for more than a third of the S&P 500’s gains this year. In addition, Nvidia set a record in 2024 as the quickest company to rise from a valuation of $1 trillion to $2 trillion, outpacing other tech behemoths such as Amazon.com, as well as Alphabet (the parent company of Google).

 

As Nvidia continues to exceed Wall Street’s expectations for revenue and profit, the question arises: Will Nvidia’s meteoric rise continue, or will Apple reclaim its position? Share your thoughts below.

 

 

Read more:

• https://www.financecharts.com/screener/biggest
• https://www.reuters.com/technology/nvidia-set-overtake-apple-worlds-second-most-valuable-company-2024-05-31/
• https://www.businessinsider.com/nvidia-stock-price-apple-microsoft-big-tech-ai-valuation-microchips-2024-5
• https://www.barchart.com/story/news/26557623/nvidias-meteoric-rise-a-new-contender-for-wall-streets-throne

 

Image: Dragan Mihajlovic, Songquan Deng | Dreamstime.com