Chipmaker Nvidia is now the world’s most valuable company, unseating Microsoft as investors bet its AI dominance will remain unmatched for now. The chipmaker’s market value crossed $3.34 trillion on Tuesday, surpassing Microsoft's $3.32 trillion. Apple, which was unseated by both, has a market value of $3.27 trillion. Despite the gains, the trio are neck-and-neck."We continue to believe this is a stock or company that can continue to grow the earnings trajectory over the next five years by north of a 30% annualized pace," said CFRA research analyst Angelo Zino during an appearance on "Varney & Co." Zino raised his price target to $139 per share. The stock, already this year, has gained more than 174%. NVIDIA'S CEO JENSEN HUANG A BIG HIT IN TAIWANNvidia is also fresh off its 10-for-1 stock split, which began trading on June 10. Mutual fund managers and various exchange-traded funds are also adjusting for the split which could be contributing to the trading action.
Source: https://www.foxbusiness.com/markets/nvi ... le-company
Nvidia topples Microsoft as world's most valuable company
