Will Nvidia Surpass Apple? The Stock Is Climbing Higher!

Your capital is at risk when you invest. Never risk more than you can afford to lose. Financial products are complex instruments and come with a high risk of losing money.

Will Nvidia Surpass Apple? The Stock Is Climbing Higher!

October 17th, 2024 -

About 2 Mins

Nvidia’s stock is nearing a new all-time high, with shares rising 3.2% to $139.02 in early trading, while the Nasdaq Composite increased by 1%. The previous record closing price for Nvidia was $135.58 on June 18, following a stock split. If this upward trend continues, Nvidia could potentially overtake Apple as the world’s most valuable company. Currently, Nvidia’s market valuation is $3.31 trillion, compared to Apple’s $3.46 trillion.

The demand for AI and advanced semiconductors has driven Nvidia’s stock up by 172% this year, significantly outpacing the approximately 22% gains seen in both the S&P 500 and Nasdaq indices. For the second quarter ending in June, Nvidia reported sales of $30 billion, marking a remarkable 122% year-over-year increase. Despite some skepticism about the AI hype, analysts remain largely positive, with about 93% rating the stock as a Buy according to FactSet data.

In a recent interview on the BG2Pod podcast, CEO Jensen Huang expressed confidence in continued growth, stating that the entire computing technology stack is being reinvented. He highlighted a shift in global investment from traditional CPUs to GPUs optimized for parallel computations essential for AI workloads. Huang believes this transformation, involving roughly one-sixth ($150 billion) of the market, will evolve into a trillion-dollar industry within five years.

Supporting this optimistic outlook, Melius analyst Ben Reitzes maintains a Buy rating on Nvidia, considering his target price of $165 conservative. He cites Nvidia’s strong infrastructure, from major cloud providers to smaller entities, and its rapid monetization capabilities, which consistently impress investors, especially when compared to industry giants like Apple or Meta Platforms.

This content is provided for general information purposes only and is not to be taken as investment advice nor as a recommendation for any security, investment strategy or investment account.

Connect with us

Policies

Support

Business Enquiries

Account Opening / General Client Enquiries

Capital Markets Elite Group (UK) Limited is authorised and regulated by the Financial Conduct Authority (FRN 583632) and registered under the laws of England and Wales, (company number 07832612). Registered Office: 01-101, 51 Eastcheap, London EC3M 1DT, United Kingdom.

Risk Warning: Financial Products are complex instruments and come with a high risk of losing money rapidly due to leverage. 92% of retail investor accounts lose money when trading Financial Products with this provider. Before trading any products supplied by Capital Markets Elite Group (UK) Limited (including subsidiaries and affiliates), you should consider your financial condition, level of experience and risk appetite carefully. You are strongly advised to obtain independent financial, legal and tax advice before proceeding with any leveraged transaction. Nothing in this site should be read or construed as constituting advice on the part of Capital Markets Elite Group (UK) Limited or any of its affiliates, directors, officers or employees. Please read and understand the terms and conditions on Capital Markets Elite Group (UK) Limited website before taking any further action.

Disclaimers: This website is for information purposes only and does not constitute an offer of solicitation for brokerage services, investment advisory services, currency trading advice, commodities trading advice, or other products or services in any jurisdiction where we are not authorized to conduct investment business or where such offer or solicitation would be contrary to the securities laws, commodities laws, or other laws and regulations of that jurisdiction. The risk of loss in electronic trading in securities, currencies, or other commodities can be substantial, and you are advised to consult with your professional advisors before investing.

Platform Fees and Market Data fees for DAS Trader Pro shown here are subject to change at any time.
Platform and Market Data Fees are not pro-rated. Market Data Fees cannot be waived.
Platform and Market Data Fees are deducted on the last day of the calendar month.
Software Fee Rebates are calculated monthly and processed within the first two (2) business days of the new month.
DAS Trader Pro Accounts are enabled with Nasdaq Total View, NYSE and AMEX level two market data. Clients will be required to pay for any additional market data feeds.
Exchanges classify customers as non-professional or professional. Exchange rules require that trusts and organizations (e.g. corporations, partnerships, LLCs and unincorporated businesses) must be classified as professional. Professional Market Data from some exchanges, requires prior approval from the exchange. Non-Professional – is any natural person and cannot be a corporation, trust, organization, institution or partnership account.

The information on this site is not directed at residents of the United States or Canada and is not intended for distribution to or use by any person in any country or jurisdiction where such distribution or use would be contrary to law or regulation.

Your capital is at risk when you invest. Never risk more than you can afford to lose. Financial products are complex instruments and come with a high risk of losing money.