Nvidia briefly surpassed Microsoft and Apple to become the most valuable company in the world last week, reaching a market capitalization of $3.33 trillion. This move was short-lived as the stock began to fall after hitting an all-time high of $140.76. Despite this, Nvidia shares have soared over the past year, gaining 207% and are up 152% so far in 2024. The recent decline in stock prices after hitting all-time highs is seen as a small blip compared to the overall upward trend. Nvidia’s recent earnings report and stock split may signal the end of recent catalysts, redirecting investor attention to undervalued opportunities. The company recently became the second largest holding in the Select Technology Sector SPDR Fund, with a weight of 20.7%. Some experts predict Nvidia could join the Dow Jones Industrial Average, which would result in ETFs needing to accumulate stocks. Despite the potential for investors to diversify, Nvidia remains a strong option for capitalizing on the growth of artificial intelligence. As of now, Nvidia is trading at $123.65 with a market capitalization of $3.037 trillion, ranking third behind Microsoft and Apple. The future remains uncertain as investors speculate on the company’s trajectory in the coming months and years.
Article Source
https://www.benzinga.com/exclusives/24/06/39511288/nvidia-reclaims-3-trillion-37-of-benzinga-readers-nailed-prediction-for-under-a-month
