Nvidia Stock Price: Nvidia Could Overtake Apple as Most Valuable Company by 2024

The article discusses the potential for Nvidia to surpass Apple as the world’s most valuable company by 2024. According to Wedbush analyst Dan Ives, Nvidia’s market capitalization could reach $3 trillion by 2024, driven by the company’s dominance in artificial intelligence (AI) and the growing demand for AI chips. Ives believes that Nvidia’s leadership in AI and the “arms race” for AI supremacy will fuel its growth, with the company benefiting from the AI boom across various industries. The article highlights Nvidia’s strong financial performance, with revenue and earnings exceeding expectations in the latest quarter. Nvidia’s stock has already surged over 200% this year, and Ives sees further upside potential as the company capitalizes on the AI revolution. The article suggests that Nvidia’s market cap could eclipse Apple’s, currently valued at around $2.9 trillion, making Nvidia the world’s most valuable company by 2024.

Source: https://markets.businessinsider.com/news/stocks/nvidia-stock-price-market-cap-apple-most-valuable-company-nvda-2024-10