Nvidia overtakes Apple again as world’s most valuable company

As a seasoned analyst with over two decades of experience in the tech industry, I’ve witnessed the rise and fall of numerous tech titans. However, Nvidia’s meteoric surge this year has left me truly astounded. The company’s strategic investment in accelerated computing and generative AI seems to have paid off handsomely, with its market capitalization outpacing industry giants like Apple and Microsoft.


As a crypto investor, I’m thrilled to see Nvidia, a leading AI-tech titan, regain its position as the world’s most valuable company on October 5. The surge in its shares by nearly 3% has pushed it ahead of competitors like Apple and Microsoft. This growth is truly encouraging!

On a given day, Nvidia’s stock increased by approximately 2.84%, causing its total market value to soar to roughly $3,430 billion. This valuation surpassed Apple’s current market cap of $3,380 billion and Microsoft’s at $3,060 billion on the same day.

apple’s stocks were still struggling to bounce back following a decline in late October due to the company’s revenue forecast being lower than anticipated, and its Q4 earnings also missed the projected figures.

2024 Q4 Microsoft share prices had yet to recover following one of their most challenging trading days in two years, as the company reduced its projected earnings for that period.

Nvidia overtakes Apple again as world’s most valuable company

Over the course of this year, Nvidia’s share price has almost trebled, largely due to robust sales increases and the company’s ongoing commitment to advanced computing and artificial intelligence (AI) with a focus on generation.

Initially, in June, Nvidia surpassed both Apple and Microsoft to claim the title of the most valuable company; however, this position was short-lived, lasting merely for a single day.

Its stock has gained 9.5% over the past month and 190% year-to-date and is currently trading at $139.91, according to Google Finance. 

Nvidia manufactures computer processors and graphics cards, which are utilized across numerous computer programs, including those related to artificial intelligence.

By the year 2024, the financial institution UBS forecasted that revenues generated from artificial intelligence could reach an astounding $420 billion by the year 2027. This would translate to a staggering compound annual growth rate (CAGR) of approximately 72%.

Back in January, analysts from UBS compared ChatGPT to the “revolutionary turning point” or “breakthrough” for the artificial intelligence (AI) sector, similar to how the iPhone transformed the mobile phone industry.

UBS told investors that they anticipate increased investment in infrastructure due to developments such as GPU cloud and AI edge-computing. Furthermore, as the demand for AI expands and monetization strategies rise, they predict robust growth for AI applications and models,” (paraphrased sentence)

“We believe AI will remain the key theme driving global tech stocks again in 2024 and the rest of the decade.”

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2024-11-06 03:19