Investing News Latest News

November 13, 2024November 13, 2024

Nvidia stock surges to a record high, solidifying its position as the world's most valuable company

Posted By: admin

view original post

AndreyKrav/iStock, Michael M. Santiago/Getty, Tyler Le/BI

Nvidia hit a record high, becoming the world’s largest company by market valuation at $3.58 trillion.
Nvidia’s rise follows a tech rally post-Donald Trump’s election win, with the Nasdaq 100 up nearly 3%.
Analysts predict Nvidia’s valuation could soon surpass $4 trillion amid ongoing AI market growth.

Nvidia stock soared as much as 5% on Wednesday to hit a record intra-day high of $146.47.

The gains catapulted Nvidia’s market valuation to $3.58 trillion, cementing its position as the largest company in the world after it closed ahead of Apple on Tuesday.

It’s the first time Nvidia has occupied the top spot on the list of most valuable companies since late October.

The stock surge came amid a broader rally for the tech sector following Donald Trump’s election victory, with the Nasdaq 100 rising nearly 3%.

The gains in Nvidia shares on Wednesday significantly outpaced the gains in Apple stock, which was up by just 0.12% at 3:05 p.m. ET.

Apple is now the world’s second-largest company, worth about $3.38 trillion, or about $200 billion less than Nvidia. The next largest company is Microsoft, which was worth $3.12 trillion on Wednesday.

In the two years since ChatGPT’s debut, shares of Nvidia, which supplies the tech sector with AI-enabling GPU chips, have added nearly $3.2 trillion to their market valuation. The stock has soared about 800%.

Wall Street believes the gains can continue, with some analysts expecting the stock to soon top a $4 trillion valuation.

Bank of America analysts raised their Nvidia price target to $190 last week, citing strong upside and a “generational opportunity” as it grows its lead in the AI space.

Another recent milestone for Nvidia is its inclusion in the Dow Jones Industrial Average, with the company set to replace Intel on Friday.

Nvidia will report third-quarter earnings results after the market close on November 20.

Read the original article on Business Insider

wealthcreationinvesting.com is not an investment advisor and is not registered with the U.S. Securities and Exchange Commission or the Financial Industry Regulatory Authority. Further, owners, employees, agents or representatives of wealthcreationinvesting.com are not acting as investment advisors and might not be registered with the U.S. Securities and Exchange Commission or the Financial Industry Regulatory.

The sender of this email makes no representations or warranties concerning the products, practices or procedures of any company or entity mentioned or recommended in this email, and makes no representations or warranties concerning said company or entity’s compliance with applicable laws and regulations, including, but not limited to, regulations promulgated by the SEC or the CFTC. The sender of this email may receive a portion of the proceeds from the sale of any products or services offered by a company or entity mentioned or recommended in this email. The recipient of this email assumes responsibility for conducting its own due diligence on the aforementioned company or entity and assumes full responsibility, and releases the sender from liability, for any purchase or order made from any company or entity mentioned or recommended in this email.

The content on any of wealthcreationinvesting.com websites, products or communication is for educational purposes only. Nothing in its products, services, or communications shall be construed as a solicitation and/or recommendation to buy or sell a security. Trading stocks, options and other securities involves risk. The risk of loss in trading securities can be substantial. The risk involved with trading stocks, options and other securities is not suitable for all investors. Prior to buying or selling an option, an investor must evaluate his/her own personal financial situation and consider all relevant risk factors. See: Characteristics and Risks of Standardized Options.

The information presented in this site is not intended to be used as the sole basis of any investment decisions, nor should it be construed as advice designed to meet the investment needs of any particular investor. Nothing in our research constitutes legal, accounting or tax advice or individually tailored investment advice. Our research is prepared for general circulation and has been prepared without regard to the individual financial circumstances and objectives of persons who receive or obtain access to it. Our research is based on sources that we believe to be reliable. However, we do not make any representation or warranty, expressed or implied, as to the accuracy of our research, the completeness, or correctness or make any guarantee or other promise as to any results that may be obtained from using our research. To the maximum extent permitted by law, neither we, any of our affiliates, nor any other person, shall have any liability whatsoever to any person for any loss or expense, whether direct, indirect, consequential, incidental or otherwise, arising from or relating in any way to any use of or reliance on our research or the information contained therein. Some discussions contain forward looking statements which are based on current expectations and differences can be expected. All of our research, including the estimates, opinions and information contained therein, reflects our judgment as of the publication or other dissemination date of the research and is subject to change without notice. Further, we expressly disclaim any responsibility to update such research. Investing involves substantial risk. Past performance is not a guarantee of future results, and a loss of original capital may occur. No one receiving or accessing our research should make any investment decision without first consulting his or her own personal financial advisor and conducting his or her own research and due diligence, including carefully reviewing any applicable prospectuses, press releases, reports and other public filings of the issuer of any securities being considered. None of the information presented should be construed as an offer to sell or buy any particular security. As always, use your best judgment when investing.

Disclaimer: Past performance is no guarantee of future performance. This product is for educational purposes only. Practical application of the products herein are at your own risk and wealthcreationinvesting.com, its partners, representatives and employees assume no responsibility or liability for any use or mis-use of the product. Please contact your financial advisor for specific financial advice tailored to your personal circumstances. Any trades shown are hypothetical example and do not represent actual trades. Actual results may differ. Nothing here in constitutes a recommendation respecting the particular security illustrated.