NVIDIA Overtakes Apple as World's Most Valuable Company
NVIDIA's stock market value temporarily reached $3.53 trillion, slightly surpassing Apple's $3.52 trillion. According to the survey, NVIDIA, Apple, and Microsoft are the three companies that have been competing for the $3 trillion mark throughout the year.
Nvidia overtakes Apple as the world's most valuable company | Reuters
As demand for chips needed for artificial intelligence (AI) continues to grow, the value of NVIDIA, which designs multiple chips to meet the demand, continues to rise, and NVIDIA's market capitalization will surpass Apple's around October 25, 2024, making it the world's most valuable company. This is the second time this year that NVIDIA has surpassed Apple to become the world's number one company.
NVIDIA becomes world's largest company with market capitalization of $3.34 trillion, surpassing Microsoft - GIGAZINE
By Alpha Photo
As of 2024, NVIDIA's value has more than doubled, and within the year, Apple, NVIDIA, and Microsoft are competing fiercely.
At the time of writing, Microsoft's
Russ Mould, a director at investment firm AJ Bell, commented on the relationship between the growing demand for AI in recent years and NVIDIA, saying, 'As more companies incorporate AI into their daily operations, demand for NVIDIA chips remains strong.' He added, 'As long as we continue to avoid a major U.S. recession, we have a good feeling that companies will continue to invest heavily in AI capabilities, providing a healthy tailwind for NVIDIA.'
Analysts expect Apple's revenue growth rate to be around 5.5% in the fourth quarter of 2024 (July to September) as the company struggles with sluggish smartphone demand, while NVIDIA's revenue growth rate is expected to rise by around 82%.
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