Nvidia Snatches Crown from Microsoft as World's Most Valuable Company
$NVIDIA(NVDA.US$ surpassed $Microsoft(MSFT.US$ as the world's most valuable company amid growing optimism over the chip giant's lead over its peers in the AI race.
Nvidia shares climbed to a fresh intra-day high of $136.25 Monday. It traded at $136.115 at 1:58 p.m. in New York taking its market cap to $3.35 trillion. Microsoft, on the other hand, slipped 0.2% to $447.36, trimming its market cap to $3.32 trillion.
The leader in making chips that power artificial intelligence has been an investor favorite. Nvidia has been attracting more funds as its quarterly earnings blew past estimates. The stock saw a net inflow of $1.65 billion, with retail investors accounting for the biggest infusion. That comes even as 11 of 15 technical indicators tracked by moomoo are showing early warning signals that Nvidia is overbought and could be turning bearish.
Wells Fargo raised its price target on the stock to $155, from $125. Rosenblatt is even more optimistic on the stock, boosted its target to $200, from $140.
Nvidia climbed more than 174% this year, setting it up to claim the top spot for companies with the biggest market cap. That compares with Microsoft's gain of 19%. Just days ago, Nvidia bumped off $Apple(AAPL.US$ from its place as the second most valuable company.
The enthusiasm for Nvidia is also playing out in the stock options market. As of f1:54 p.m., 4.29 million Nvidia options have changed hands. The most popular among them are call options that give the holder the right to buy shares at $135, as the stock price climb above that strike price.
To see Nvidia's stock options chain, click here. Share your thoughts below and don't forget to vote.
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Former editor at Bloomberg, then Lazard Asset Management. Posts aren’t investment advice. Views are just mine.
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Scapey T Goat :
VJong_基金顧问 : Top of the world now
74630060 : informative article
Olimia : Game: NVDA. Compute: NVDA. Cryptocurrency: NVDA. Electric vehicle automation: NVDA. AI: NVDA. No matter what happens next, the answer is Nvidia
$Nvidia (NVDA.US) $
Saul d Solache : good morning
daveybaby : does nivida do anything else than just make micro chips? The other mag 7 do a few more things then just one. thinking they won't stay number one for long if don't do other products. what do people think?