Nvidia overtakes Apple as the second most valuable corporation.

By talking magic fingers -

 To clarify, Nvidia's market cap gain was approximately $150 billion, not $150 million. The company reached record highs on Wednesday, surpassing Apple as the second most valuable corporation with a value exceeding $3 trillion.

Nvidia will split its stock ten-for-one on June 7, potentially attracting private investors.
Nvidia's market value rising above Apple's signifies a shift in Silicon Valley, where Steve Jobs' company has dominated since the iPhone's 2007 launch.
Nvidia's stock rose 5.2% to $1,224.40, worth $3.012 trillion. Apple's market worth was $3.003 trillion after its 0.8% share rise.
After a 1.9% share price increase, Redmond, Washington-based Microsoft is the world's most valuable company at $3.15 trillion.

“Nvidia is earning money on AI right now, and firms like Apple and Meta are spending on AI," said Longbow Asset Management CEO Jake Dollarhide.
Nvidia may surpass Microsoft. Retailers are investing heavily in a likely winner."

First of 3. A pedestrian passes an Nvidia logo at Computex in Taipei, Taiwan, on June 5, 2024. REUTERS/Ann Wang.
[1/3]A pedestrian passes an Nvidia logo at Computex in Taipei, Taiwan, on June 5, 2024. REUTERS/Ann Wang. Purchase License Rights opens a new tab.


As Microsoft, Meta Platforms, and Google-owner Alphabet compete to dominate AI computing, Nvidia's stock has increased 147% in 2024 as demand exceeds supply for its top-of-the-line chips.

Since May 22, when Nvidia revealed its most stellar sales projection, it has climbed over 30%.
Nvidia's market cap rose $150 billion on Wednesday, surpassing AT&T's.

PHLX chip index rose 4.5% on Wednesday as AI optimism boosted semiconductor firms. Super Micro Computer, which makes Nvidia-powered AI servers, rose 4%.
This week, Taiwanese media covered Nvidia CEO Jensen Huang, who was mobbed at Computex in Taipei, his hometown before moving to the US.
Nvidia is riding Wall Street's AI euphoria, while Apple faces slow iPhone demand and stiff competition in China, the world's largest smartphone market.
Apple may be falling behind other tech titans in adopting AI technologies, according to some investors.
Analysts predict Nvidia's earnings to outperform its stock growth. Nvidia is trading at 39 times predicted earnings, down from 70 times a year ago, according to LSEG figures.




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