Nvidia Poised to Surpass Apple as World's Most Valuable Company

In Brief:

Nvidia's stock performance this year positions it to potentially surpass Apple as the most valuable company, with its market cap nearing Apple's $3.429 trillion.

The AI chipmaker's recent gains have propelled it to second place behind Apple, driven by a 240% increase in stock value throughout 2023.

‍

Nvidia: NVDA to Overtake Apple as Most Valuable Company?

‍

Nvidia, the AI chipmaker experiencing a meteoric rise in stock performance, is on the brink of overtaking Apple as the most valuable company in the world. Currently, Apple holds the top spot with a market cap of $3.429 trillion, but Nvidia is closing in rapidly.

‍

This week, Nvidia officially surpassed Microsoft to claim the second position in market value, fueled by a remarkable 240% increase in stock price this year. Nvidia's stock ended Tuesday's trading session up more than 4%, trading at $132.89, continuing its trajectory towards an all-time high.

‍

Nvidia's market cap now stands at $3.30 trillion, with only a slight increase needed to surpass Apple. The company would need to add just $6.8 to its per-share market price to claim the top position, a feat that seems within reach given its recent performance.

‍