Nvidia Stock Surges to Record Highs, Poised to Overtake Apple as World’s Second Most Valuable Company
If you’ve been following the stock market lately, you may have noticed that Nvidia, the AI chipmaker, has been on a remarkable rally. In fact, its stock market valuation is on the verge of hitting the $3 trillion mark, potentially overtaking Apple to become the world’s second most valuable company.
What’s driving this surge in Nvidia’s stock price? Well, one major factor is the company’s upcoming stock split. On June 7, Nvidia will be splitting its stock ten-for-one, a move that could make it more attractive to individual investors looking to get in on the action.
But that’s not the only reason for Nvidia’s recent success. The demand for the company’s top-of-the-line processors has been skyrocketing, far outpacing supply. Tech giants like Microsoft, Meta Platforms, and Alphabet are all racing to build out their AI computing capabilities, and Nvidia is at the forefront of this emerging technology.
As of now, Nvidia’s stock has soared an impressive 145% in 2024. Today, the Silicon Valley chipmaker’s stock was up 4.2% at $1,212.89, giving it a market value of $2.98 trillion. Apple, currently the world’s second most valuable company, has a slightly higher market capitalization at $3.01 trillion.
Meanwhile, Microsoft remains the reigning champion as the world’s most valuable company, with a market value of $3.14 trillion.
So, what does all this mean for investors? Well, if you’re looking to get in on the action, now might be the time to consider adding Nvidia to your portfolio. With its innovative technology and impressive growth potential, Nvidia is definitely a stock worth keeping an eye on.
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