On Monday, NVIDIA's market value surpassed that of fellow technology giants Amazon and Alphabet. This is an almost unbelievable feat as NVIDIA's stock price has more than quadrupled in the past 15 months as investors take advantage of NVIDIA's market-leading position in artificial intelligence. did.
Nvidia stock's 17,000% gain over the past decade is by far the best in the S&P 500. [+] Component.
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Nvidia's stock rose nearly 3% to an all-time high of more than $740, giving it a market capitalization of $1.83 trillion, narrowly ahead of Alphabet's $1.82 trillion and Amazon's $1.8 trillion. Ta.
The symbolic passing of the torch capped Nvidia's remarkable run as Wall Street rallied on the stock amid an AI boom.
As of October 2022, just before the AI wave began to peak, NVIDIA's market capitalization was less than $300 billion, far behind Amazon and Alphabet, which were valued at over $1 trillion at the time. Ta.
Nvidia is currently the fourth most valuable publicly traded company in the world, behind Microsoft ($3.1 trillion), Apple ($2.9 trillion), and Saudi Aramco ($2 trillion).
Nvidia is the most prominent manufacturer of semiconductor chip technology that powers generative AI. Investors are impressed not only by his Nvidia's potential to leverage growing interest in AI and corporate spending, but also by its already explosive performance. Nvidias' earnings before interest, taxes, depreciation, and amortization (EBITDA) expanded more than 500% year-over-year last quarter, thanks to tremendous growth in its AI division, compared with more than 20% for Amazon and Alphabet. The growth rate during the comparative period is much stronger than the profit. Nvidia's total revenue and profits are unspectacular compared to its trillion-dollar peers, with its $9.2 billion profit last quarter trailing Apple's and Microsoft's more than $22 billion in the same period. It was much smaller than profits, but analysts expect Nvidia's financials to make up the difference soon. Nvidia remains one of the hottest stocks on Wall Street even after rising more than 50% this year, and is a top choice among analysts at both Goldman Sachs and Bank of America, both companies NVIDIA's price target is $800. This suggests an additional 8% increase in the stock price.
Nvidia stock's 17,000% rise over the past decade is by far the best return of any S&P 500 stock, and nearly three times the return of silver medalist and fellow chipmaker Advanced Micro Devices. . His $1,000 investment in Nvidia 10 years ago is now worth about $175,000.
What to watch out for
Nvidia is scheduled to report earnings for the fiscal quarter that ended last month next Wednesday. Analysts expect the company to report record sales and profits for the third consecutive quarter.
Read more from FORBES Read more from Amazon? Nvidia stock soars after 'cosmological' profit forecast By Derek Saul More from FORBES NVvidia is the hottest stock this year.So why are analysts disappointed in his 230% return? By: Derek Sole
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