When Will Nvidia Surpass Apple in Market Capitalisation?
$NVIDIA Corp(NVDA)$
are 2 of the Top companies with Market valuation above USD 2 Trillion. While Nvidia has been delivering market smashing returns for investors, Apple's share price has been sliding downwards recently.
Nvidia has created history this year on February 22 with the single largest one day gain of USD 277 billion after it reported Q423 earnings that beat market expectations and reignited a huge rally fuelled by optimism about AI. Nvidia only took 9 months to cross the gap from USD 1 Trillion to USD 2 Trillion. That is yet another record! In contrast Apple, Microsoft and $Alphabet(GOOGL)$
Nvidia went from an all time low of USD 222.97 to an all time high of USD 876.95 in just 1 year. Nvidia's phenomenal returns reflect the tremendous growth it has experienced from data centre customers for its specialised high powered Graphics Processors (GPUs).
However Apple is still the more valuable company with a market capitalisation of USD 2.63 Trillion versus Nvidia's market capitalisation of USD 2.15 Trillion.
Apple's share price is down 2.8% today on news that its iPhone sales in China dropped 24% as it faces stiff competition from local smartphone companies such as Huawei. This is according to Counterpoint Research. Apple also recently announced that it has canceled work on its EV after 10 years. Apple will now focus on Generative AI.
Apple has been fined by the European Union USD 2 billion on Monday for unfairly favouring its own music streaming service by forbidding rivals like Spotify from telling users how they could pay for cheaper subscriptions outside of iPhone apps. This is the EU's first antitrust penalty. Apple is appealing the decision.
It is not surprising that Apple's share price has now declined 8.3% year todate but it is still up 10.5% in the past year.
In contrast Nvidia has been zooming like a rocket to the moon with a huge 78.4% in just 2 months this year. In 2023 Nvidia is up a massive 264%.
So at this explosive rate of growth, I would not be surprised if Nvidia will surpass Apple in market capitalisation within this year to reach USD 3 Trillion.
Wall Street Analysts are super bullish on Nvidia with a new street high target price of USD 1400 by Rosenblatt Securities. Loop Capital set a Target price of USD 1200 earlier on for Nvidia. If this happens, Nvidia will have a new market capitalisation rising to USD 3.5 Trillion! This is even higher than $Microsoft(MSFT)$
It seems like record highs have become an almost daily affair for Nvidia for the last several months. Nvidia is currently the best performing stock within the S&P500 setting new records. It is all due to Nvidia's CEO and Founder Jensen Huang who started Nvidia in 1993. Through his vision and innovation, Nvidia has reached where it is today because of his capable leadership. What an amazing leader! What an incredible company is Nvidia!
@Tiger_comments @TigerStars @MillionaireTiger @CaptainTiger @Daily_Discussion @TigerClub @Tiger_SG
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
- Aqa·03-07👍🏻 Lijed snd shared. Support my frend.LikeReport