Nvidia poised to overtake Apple as world’s most valuable company: How much profit Jensen Huang’s company needs to make by Wednesday – NVIDIA (NASDAQ:NVDA)

Nvidia’s NVDA Despite market fluctuations, our business performance has continued unabated for almost two years. jensen fan-The company has emerged as a leading figure in artificial intelligence technology.

Wild Rally: Nvidia is the second-best performing stock in the S&P 500 year-to-date behind power companies. Vistra VST. After ending 2023 with a solid 240% gain, the stock is up 168% so far this year.

This week, it was overtaken by Nvidia, which started as the third-largest company by market capitalization. Microsoft Corporation MSFT It further solidified its second place position on Monday, and further solidified its position on Tuesday. Shares of the AI ​​heavyweight closed Tuesday’s session up 4.05% at $132.89, according to data from Benzinga Pro.

This prolonged bull market marks a turnaround from 2022, when stock prices fell more than 50% as the AI ​​trend began to push all sorts of companies to utilize AI technology. Nvidia’s first-mover advantage, cutting-edge technology, full-stack AI solutions, and strong management team have been hallmarks of the company’s success.

Skeptics often risk the high spending needed to maintain a lead in the AI ​​race, potentially causing a potential AI bubble to burst with headwinds. The company continues to execute on its plans, outperforming expectations and defying doomsday predictions.

See also: How to buy Nvidia (NVDA) stock

What it takes to drive and lead: Nvidia closed Tuesday with a market capitalization of $3.26 trillion, compared to Apple’s $3.429 trillion. The difference is $169 billion.

Nvidia has 24.85 billion shares outstanding on a diluted basis.

To catch up with Apple, Nvidia would need to add $6.8 to the market price per share, assuming Apple’s stock price remains the same or declines. This isn’t a difficult question considering Nvidia added $5.17 on Tuesday.

Does this stock have the power to leapfrog Apple? In pre-market trading on Wednesday, Nvidia was up about $1, while Apple was down $1.28, or 0.57%.

Speeches from a number of Fed officials and minutes from the September interest rate meeting, where the central bank announced the first rate cut of the current monetary policy meeting cycle, could shape the tone at Wednesday’s meeting. Absent a fundamental stock-specific catalyst, we can’t rule out Nvidia closing Wednesday as the most valuable company.

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