NVIDIA hits all-time high and $3 trillion market value milestone, boosting AI semiconductor stocks

From Nasdaq: 2024-06-07 09:38:00

NVIDIA Corporation’s stock hit an all-time high, surpassing a $3 trillion market value milestone, becoming the second-largest U.S. company. The Nasdaq and SOX indices also reached record highs thanks to NVIDIA’s performance in the AI market. The company unveiled new AI chip architecture and announced significant product launches, contributing to an optimistic outlook.

NVIDIA continues its market leadership in AI, with a 211.5% surge in share value over the past year and a 146.4% increase year-to-date. The company’s revenue performance has been stellar, with first-quarter fiscal 2025 revenues of $26.04 billion, marking a 262% year-over-year surge. The AI market’s potential has attracted other tech giants to invest in AI-driven advancements.

Micron Technology, QUALCOMM Incorporated, and Advanced Micro Devices are semiconductor stocks positioned to benefit from the AI semiconductor boom. Micron focuses on high-performance memory and storage technologies, while QUALCOMM offers digital wireless telecom products. Meanwhile, Advanced Micro Devices has emerged as a strong player in the GPU market.

With rising demand for AI-based processors, these semiconductor companies are expected to see growth. Micron projects its earnings to grow by 119.2%, QUALCOMM’s by 17.1%, and Advanced Micro Devices by 29.1%. This presents investment opportunities for those looking to capitalize on the AI semiconductor market’s upward trajectory and potential for future growth.



Read more at Nasdaq: 3 Stocks in Focus as NVIDIA Powers AI Semiconductor Boom