Home » Technology » NVIDIA defeats Apple on the day of the presidential election and regains first place in market cap

NVIDIA defeats Apple on the day of the presidential election and regains first place in market cap

No. 1 once again since June
The stock price soared 183% this year alone.
“Reflects investor expectations that the AI ​​boom will continue
“Neither Trump nor Harris can stop the rally.”

Nvidia stock price fluctuation trend. The closing price on the 5th (local time) was $139.91. Source: CNBC

Nvidia defeated Apple on the day of the U.S. presidential election and regained first place in market capitalization. Investors expect that the artificial intelligence (AI) craze will continue next year, no matter who is elected.

According to Bloomberg News on the 5th (local time), Nvidia’s stock price closed at $139.91 on the New York Stock Exchange, up 2.84% from the previous trading day. Its market capitalization increased to $3.43 trillion (approximately 4,779 trillion won), surpassing Apple with $3.38 trillion to take first place.

This is the first time since June 18 that NVIDIA regained first place. Even then, it surpassed Apple, but its first place lasted only one day.

Nvidia, a major beneficiary of AI, has soared more than 850% in about two years since the end of 2022. It has risen 183% this year, the third largest increase in the S&P 500 index. As a result, Nvidia alone accounts for 7% of the S&P 500 index, and one quarter of the 21% increase recorded by the index this year was attributed to Nvidia.

“In recent quarters, people have basically inflation“There seemed to be interest in NVIDIA and jobs,” he said. “The fact that NVIDIA has surpassed Apple in market capitalization not only shows that it is the biggest beneficiary of the AI ​​infrastructure cycle, but also suggests that people expect the AI ​​boom to continue.” He added, “Big techs are investing hundreds of billions of dollars in AI,” and “the overall outlook continues to be good.”

In particular, the recent strong performance has had the effect of resolving investor concerns related to AI chip Blackwell, whose production was delayed due to manufacturing issues, and improving the company’s long-term growth prospects.

At the end of last month, NVIDIA CEO Jensen Huang said at a supercomputer launch event held in Denmark, “There was a design flaw in Blackwell, and it was 100% NVIDIA’s fault,” and “We corrected the defect with the help of TSMC.” At the Goldman Sachs conference, Blackwell’s release date was predicted to be in the fourth quarter.

In addition, as a result of Bloomberg’s compilation of major analyst forecasts, NVIDIA’s sales in fiscal 2024 are predicted to more than double compared to the previous year and increase by an additional 44% in the next fiscal year.

Barron’s, an investment media outlet, said, “Congress passed the Chips Act with bipartisan agreement in 2022, and restrictions on semiconductor exports to China affected Nvidia’s cutting-edge semiconductors,” and added, “Neither Trump nor Harris can hinder Nvidia’s rally.” .

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