Nvidia Stock Hits Record High, Approaches Apple’s Value

May 31, 2024

New Rise in the Price of Nvidia’s Stock market value rose sharply on May 28, when its stocks hit a new high. They are now worth almost as much as Apple’s. The value of the company’s shares went up by 6%, making the stock price $1,128 and the market capitalization of the company about $2.8 trillion.

Factors Contributing to Nvidia’s Rally

The main reasons for this big rise in Nvidia’s stock prices are the company’s optimistic sales forecast for the second quarter and its announcement of a stock split. Investors are very interested in Nvidia’s work in artificial intelligence (AI), which is a field that is growing very quickly. This is because Nvidia has strong financial performance and a strategic place in the technology market.

AI and Tech Industry Impact

Nvidia is currently very successful because big tech companies like Alphabet, Microsoft, and Amazon are buying more and more of its high-performance microchips for their data centres. These chips are necessary to run complex AI programs, which is why Nvidia’s sales in this area have grown five times.

Comparison with Apple and Microsoft

While Nvidia is growing quickly, Apple has been having a rough time, with stock values going down slightly because iPhone sales are down and competition in China is high. But Microsoft is still the most valuable company in the world, thanks in large part to how quickly and well it added AI to its cloud services. Apple’s later adoption of AI technology, on the other hand, shows that the company might not be able to keep its marketplace.

Future Prospects: Nvidia vs. Apple

A big change is coming to the tech world as Nvidia gets closer to passing Apple in market value. With Nvidia’s clear growth trend and Apple’s recent performance issues, investors and people in the business world are eagerly waiting to see if Nvidia will pass Apple and become the third most valuable company in the world, narrowly behind Microsoft.

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