{ }
Symbol NVDA
Name NVIDIA Corporation
Currency USD
Sector Information Technology
IndustryGroup Semiconductors & Semiconductor Equipment
Industry Semiconductors & Semiconductor Equipment
Market NASDAQ Global Select
Country United States
State CA
City Santa Clara
Zipcode 95051
Website http://www.nvidia.com
Qualcomm reported fourth-quarter earnings that surpassed Wall Street expectations, with earnings per share at $2.69 and revenue of $10.24 billion. The company anticipates revenue between $10.5 billion and $11.3 billion for the current quarter, driven by a 12% increase in handset chip sales and significant growth in its automotive and IoT sectors. Under CEO Cristiano Amon, Qualcomm is shifting focus from smartphones to becoming a leader in connected computing and AI technologies.
AI-driven healthcare applications surged during the COVID-19 pandemic, highlighting the importance of remote health monitoring. Major players like Google, Microsoft, and NVIDIA are advancing AI technologies across various sectors, with significant investments and partnerships emerging, such as Infosys and Microsoft’s collaboration to enhance AI solutions. Despite rapid growth, the market faces challenges, including a shortage of skilled professionals and biases in AI systems, which could hinder further development.
U.S. stock futures rose as election results indicated a tight race, with Dow futures jumping over 350 points. Nvidia surpassed Apple in market capitalization, while AstraZeneca's shares fell due to fraud concerns in China. Additionally, Boeing workers ended their strike with a new contract.
Super Micro shares fell 17% after the company announced it has no timetable for filing annual results and issued weak guidance, with revenue for the quarter ending Sept. 30 falling short of estimates. The company is under scrutiny following the resignation of its auditor, Ernst & Young, amid allegations of accounting irregularities and potential export violations. Super Micro's forecast for the December quarter also disappointed analysts, raising concerns about its future on the Nasdaq.
Nvidia Corp. has surpassed Apple Inc. to become the world's largest company, with a market capitalization of $3.43 trillion, fueled by a surge in AI demand. Shares rose 2.9% to $139.93, reflecting a staggering 850% increase since the end of 2022. The chipmaker's performance significantly contributes to the S&P 500 Index, accounting for 7% of its weight and driving a quarter of its 21% gain this year.
The Tiger Grandcub, led by Glen Kacher, has maintained its status as a top performer, with its long-short fund gaining 5.78% in October, bringing its year-to-date return to 53.26%. Light Street Capital's long-only fund rose 3.84% in October, up 39.85% for the year. The firm remains bullish on AI and semiconductor stocks, with Nvidia and TSMC as major holdings, while also initiating a position in Celestica, which surged 34% in October.
Nvidia Corp. has overtaken Apple Inc. to become the world's largest company, with a market capitalization of $3.43 trillion following a 2.9% rise in shares to $139.93. This milestone highlights the significant impact of artificial intelligence on the market, as Nvidia's stock has surged over 850% since the end of 2022. Microsoft Corp. follows with a market cap of $3.06 trillion.
Nvidia has surpassed Apple to become the world's most valuable publicly traded company, with a market cap of $3.43 trillion compared to Apple's $3.4 trillion. The surge in Nvidia's stock, which has nearly tripled in 2024, is driven by its dominance in the GPU market and strong growth in artificial intelligence. Meanwhile, Apple reported a 6% revenue increase but indicated weaker growth expectations, as Nvidia prepares to join the Dow Industrial Average, replacing Intel.
Nvidia briefly surpassed Apple as the world's most valuable company, reaching a market cap of $3.38 trillion, driven by its advancements in AI technology. Co-founder Jensen Huang reflected on the company's humble beginnings in a Denny's restaurant, emphasizing that success stems from hard work and vision. Despite a temporary dip, Nvidia's stock has surged over 500% in 2023, showcasing its pivotal role in the AI revolution.
Hon Hai Precision Industry Co., a major manufacturer for Apple, reported its slowest monthly sales growth since February, with October sales reaching NT$804.9 billion ($25.2 billion), up 8.6%. This slowdown raises concerns about demand for both AI infrastructure and iPhones, aligning with Apple's weak holiday quarter forecast. Analysts predict Hon Hai's sales will grow by 15% to NT$2.13 trillion in the current quarter.

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