Summary
Nvidiastock has reached an all-time high of $143.71 per share after a week of volatility in the year-on-year reports of some of its main chip suppliers, with a few expecting considerable profits, and others presenting disheartening sales forecasts. For several years,Nvidiahas been at the forefront of the graphics card market for both gaming and professional purposes, supplying millions of tech aficionados and workstation owners with their advanced chipsets.
Nvidia recently celebrated the25th anniversary of its GeForce 256 graphics card, which helped the brand begin to establish itself in the market and eventually become the behemoth it is today. This celebration comes with a fair share of additional good news, as the company also reached the $3.34 trillion market cap in June of this year. This not only puts it in the top 5 positions along with Microsoft, Amazon, Google, and Apple, but it also represents a favorable uptrend in its value.
Recently, Nvidia’s stockholders had plenty to celebrate, as the company’s stock has not only been in a sustained uptrend for the entirety of 2024, but also hit a new record high of $143.71 per share. This comes as a result of various factors, including the rumors surrounding a massiveclock speed upgrade to the upcoming RTX 5090, as well as the positive 54.20% year-on-year profit report of Taiwan Semiconductor Manufacturing Company (TSMC), one of the largest AI chips suppliers for both Nvidia and Apple.
Nvidia Hits Record High in the Stock Market
After the considerable increase in the company’s stock price and the formidable market cap it’s building, investors are reportedly very optimistic about the continuation of the stock’s uptrend in the immediate future. However, others are said to be doubting whether purchasing more stock at its current price is a good bet. Especially considering thatNvidia was recently sued by various novelistsunder claims that their work had been used to train NeMo, the tech giant’s flagship AI.
This, along with the fact thatNvidia partners are reportedly raising their prices, as well as the possible export restrictions the company might face in the Persian Gulf, raises many doubts among potential investors. Additionally, companies like ASML, the suppliers of TSMC’s chipmaking machines, have recently presented disheartening sales forecasts for the year, which paints a worrying picture of TSMC’s future production capabilities.
With its $3.4 trillion market cap, Nvidia is on the verge of surpassing Apple, the current leader in the charts with a market cap of $3.5 trillion. Whether the recentrumored leaks surrounding the RTX 5000 Series graphics cardswill help Nvidia take the crown or cause it to fall behind is still uncertain. However, it’s clear that both potential investors and current stockholders are watching the charts very closely to make a move.
