NVIDIA surpasses Microsoft to become most valuable company with strong growth potential in AI.

From Nasdaq: 2024-06-19 08:08:00

NVIDIA Corporation has overtaken Microsoft Corporation to become the most valuable company in the world. With a market capitalization of $3.335 trillion, NVIDIA has witnessed a 175.1% surge in its stock price year to date, outperforming the Semiconductor – General industry. Investors are optimistic about NVIDIA’s strategic positioning and growth potential in generative AI applications.

The global generative AI market is projected to reach $967.6 billion by 2032, growing at a CAGR of 39.6% from 2024 to 2032. NVIDIA’s next-generation chips are expected to meet the demand for computational power in generative AI applications. The company anticipates a significant revenue increase in the second quarter of fiscal 2025 due to rising AI investments in various sectors.

Investors are advised to consider NVIDIA’s robust product portfolio and leadership in AI for long-term growth potential. Despite a high one-year forward P/S ratio, the company’s consistent financial performance and strong presence in emerging sectors make it a compelling investment option. NVIDIA is a Zacks Rank #1 (Strong Buy) stock with promising growth prospects for investors.

If you’re looking for other top-ranked stocks in the technology sector, consider Datadog, Inc. The company boasts a Zacks Rank #1 and a strong Growth Score of A. With an expected earnings growth rate of 9.6%, Datadog provides another investment opportunity in the evolving tech landscape. Explore the potential of these top-ranked stocks for long-term growth and performance in the market.



Read more at Nasdaq: NVIDIA (NVDA) Overtakes Microsoft as the Most Valued Company