New market cap battle: Microsoft VS Apple VS Nvidia
Tuesday: Microsoft, Apple, Google-parent Alphabet, Meta, Amazon, Warren Buffet’s Berkshire Hathaway, and other giant companies that had been sharing the topmost position for a long time were pushed back by Nvidia. The market cap of chip maker Nvidia reached $3.335 trillion on June 18, 2024, surpassing Microsoft, Apple, Meta, and other giants and becoming the most valued company in the world.
Nvidia is now the world's most valuable company. pic.twitter.com/zvO0MTTI2j
— Tibo (@tibo_maker) June 19, 2024
The chipmaker Nvidia Corporation continues to rise to the top of the global IT market capitalization leaderboard. As a result of its ascent, Nvidia surpassed Apple, Google, Microsoft, and Meta to become the most valuable business in the world. This accomplishment emphasizes how artificial intelligence is the main focus for investors.
Nvidia left the topmost tech giants behind
The AI company’s shares increased by 3.4 per cent, making Nvidia the most valuable publicly traded corporation in the world, with a market valuation of over $3.3 trillion. This positions the Jensen Huang-led company ahead of all the top giants. Nvidia’s stock shot a record high on Tuesday as the company’s market value increased by almost $103 billion. In just nine months, the company’s market worth increased from $1 trillion to $2 trillion in February. It took Nvidia over three months to reach $3 trillion in June.
Throughout June, the leading firms competed for the top slot, with Nvidia eventually defeating its rivals. With the use of AI, Nvidia has experienced record-breaking revenue growth, which has propelled the company to the top.
According to Bloomberg, “The ranking is yet another reminder that AI is the top focus of many investors. Nvidia is seen as the biggest and earliest beneficiary of the technology as it dominates the market with its highly sought-after chips that help power data centres running complex computing tastes required by AI applications. Demand for its H100 accelerators is surging and helped drive the chip maker’s sales up by more than 125% last year.”
What do Investors expect?
With a market value of $3.334 trillion, semiconductor giant #Nvidia is now worth more than the GDP of all but six of the world's biggest economies. pic.twitter.com/bQyB25RdFm
— Forbes India (@ForbesIndia) June 19, 2024
According to a report by Wedbush Securities analyst Daniel Ives, analysts expect intense competition between Nvidia, Apple, and Microsoft for the tech sector’s first $4 trillion market cap. Investors and Nvidia CEO Jensen Huang believe the company transcends the label of a simple chipmaker.
The shift in the rankings emphasizes how crucial AI is to investors. It is commonly believed that Nvidia is the leader and the primary benefit of AI technology becoming more extensively used. The company holds a dominant market position with its sought-after chips.
Furthermore, Baron Capital Inc.‘s Vice President and portfolio manager, Michael Lippert, stated, “They’re not just selling chips, they’re selling systems.” He emphasized Nvidia’s proprietary software and development ecosystem as key differentiators.
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