Nvidia, Microsoft, and Apple are vying for the title of the most valuable company in the world as investors focus on the future of AI. State Street’s Technology Select Sector SPDR ETF, worth close to $80 billion, is preparing for a significant rebalancing. Nvidia recently surpassed Microsoft as the world’s most valuable company, with both companies alongside Apple having market caps exceeding $3 trillion within the technology sector. After the rebalancing, Nvidia is expected to overtake Apple in the ETF. Nvidia’s stock has risen by nearly 160% this year, with a record revenue increase of 262% last quarter. The company completed a 10-for-1 stock split and increased its dividend payment by 150%. Ray Wang, founder of Constellation Research, predicts that Nvidia’s stock will exceed $200 this year due to its market dominance in AI chips, innovative product roadmap, strong sales numbers, and visionary founder, Jensen Huang. Huang, known for his signature black leather jacket, has a loyal following and recently received a rock star treatment during a trip to his native Taiwan. Wang made these comments during an appearance on “Varney & Co.” where he discussed Nvidia’s growth and potential.
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