Nvidia’s stock dropped on Thursday after the company became the world’s second most valuable. Shares closed 1.2% lower at $1,209.98, following a 5.2% increase on Wednesday. This rise pushed Nvidia’s market capitalization to $3.01 trillion, surpassing Apple’s and placing it second only to Microsoft’s $3.15 trillion market cap.
Nvidia has achieved several record highs this week, driven by CEO Jensen Huang’s weekend announcement of plans for the Blackwell Ultra chip in 2025 and the Rubin platform in 2026. The company is also set to complete a 10-for-1 stock split on Friday.
CFRA analyst Angelo Zino, who has a Buy rating and a $1,160 target price for Nvidia, believes the company could become the most valuable due to its AI monetization potential and significant market expansion opportunities.
The Department of Justice is reportedly investigating Nvidia for potential antitrust violations. Nvidia has not commented on the investigation.
Other chip makers saw declines as well, with AMD down 0.4% and Intel down 1.2%. Nvidia’s shares have surged 144% this year, compared to a 12% rise in the S&P 500 and a 14% increase in the Nasdaq Composite.
1 Comment
Pingback: Twenty percent of the value of the S&P 500 is now made up of just three stocks. Some investors are scared about that. - BourseWatch - Latest Daily Stock Market And Finance News