Nvidia briefly becomes world's largest company with $3.3 trillion market cap

From Nasdaq: 2024-06-28 14:13:35

Nvidia has overtaken Microsoft briefly to become the largest company globally, with $3.3 trillion in market cap. While Microsoft still leads in revenue and operating income, Nvidia has higher margins and growth rates, causing valuation multiples to be more expensive for investors. The market is heavily concentrated in the top few companies, with Nvidia driving a third of the S&P 500’s returns this year alone.

Investors are seeing Nvidia up 175% this year, contributing heavily to S&P 500 gains, while average stocks are trailing. Concerns arise due to market concentration with top companies all in the same industry. Success in beating the market in 2024 seems to hinge on whether or not investors own Nvidia stock, given its significant influence on overall market performance.



Read more at Nasdaq: Do You Know It All When It Comes to Nvidia?