Nvidia may be the next trillion-dollar company in the US stock market, it once soared as much as 30% in post-market trading on Wednesday after posting its strong Q1 financial results, and its market cap gained $220 billion and reached an all-time high of $974 billion.
Its $220 Billion Single-Day Market Value Gain Ranks No 1 in US Market and No 2 Globally
When talking about its $220 billion gain, which was the largest single-day gain in US market, it would trump Apple Inc.’s $191 billion one-day pop in November last year and a slightly smaller surge in Amazon.com Inc. in February 2022.
Compared to its competitors, its single-day market cap gain almost equals to 126% that of AMD, 181% that of Intel and 302% that of Micron; Moreover, its market cap surpassed the sum of TSMC, AMD and Intel.
In global market, it still ranks at least No. 2 globally. PetroChina Co. added nearly $600 billion in its first-day of trading in Shanghai in November 2007.
AI Sector Gained $300 Billion in Extended Trading and This AI Stock Already Surged Nearly 150%
Meanwhile, the AI sector gained $300 billion in extended trading, besides Nvidia, Microsoft and TSMC jumped over $30 billion, followed by Alphabet which rose over $20 billion.
When talking about annual performance, C3.AI was the biggest winner and already surged 148.88%, Nvidia ranks No 2 and soared 108.96%, while Palantir rose 90.5%.
The main reason is Nvidia’s strong financial results, it reported fiscal Q1 earnings of $2.04 billion, or 82 cents a share, on sales of $7.19 billion, a decline from $8.29 billion a year ago. After adjusting for stock compensation and other effects, it reported earnings of $1.09 a share, a decline from $1.36 a share a year ago.
It guided for Q2 revenue of $11 billion, plus or minus 2%; the company has never before reported quarterly revenue higher than $8.29 billion, which it hit in the fiscal Q1 a year ago, and forecasts adjusted gross margins of 70% for Q2, after reporting 66.8% for Q1.
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