Nvidia topples Microsoft as world’s most valuable company

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Chipmaker Nvidia is now the world’s most valuable company, unseating Microsoft as investors bet its AI dominance will remain unmatched for now.  

Ticker Security Last Change Change %
NVDA NVIDIA CORP. 131.01 -0.87 -0.66%
MSFT MICROSOFT CORP. 446.04 -2.33 -0.52%
AAPL APPLE INC. 216.67 +4.18 +1.97%

The chipmaker’s market value crossed $3.34 trillion on Tuesday, surpassing Microsoft’s $3.32 trillion. Apple, which was unseated by both, has a market value of $3.27 trillion. Despite the gains, the trio are neck-and-neck.

“We continue to believe this is a stock or company that can continue to grow the earnings trajectory over the next five years by north of a 30% annualized pace,” said CFRA research analyst Angelo Zino during an appearance on “Varney & Co.” 

Zino raised his price target to $139 per share. The stock, already this year, has gained more than 174%.

NVIDIA’S CEO JENSEN HUANG A BIG HIT IN TAIWAN

Nvidia is also fresh off its 10-for-1 stock split, which began trading on June 10. Mutual fund managers and various exchange-traded funds are also adjusting for the split which could be contributing to the trading action. 

Ticker Security Last Change Change %
SP500 S&P 500 5483.53 +10.30 +0.19%
I:COMP NASDAQ COMPOSITE INDEX 17861.254107 +4.23 +0.02%

The shares were the most active in both the S&P 500 and Nasdaq Composite – both indices are hovering at fresh-record highs. 

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