NVIDIA has performed exceptionally well this year, leaving other companies in the market far behind. Under the leadership of Jensen Huang, it has become the world’s most valuable publicly traded company.
As tech companies strive to develop different artificial intelligence models, the prosperity of AI has driven a high demand for NVIDIA’s chips. Just this year, the company’s stock hit a historic high on Tuesday, rising over 170%.
NVIDIA’s market value surpasses that of Microsoft, making it the largest publicly traded company with a market capitalization of $3.33 trillion. Last week, due to strong profit performance and a 3-for-1 stock split, the chipmaker’s market value exceeded that of Apple, with its stock price rising to over $1 trillion.
In the previous quarter, NVIDIA’s revenue surged due to the growth of its data center business, with data center business accounting for 86% of sales. The company controls nearly 80% of the data center AI chip market.
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Microsoft’s stock forecast for the next 12 months
Analysts remain bullish on NVIDIA. Wells Fargo raised the target price from $125 to $155, raising it to $200.
While Microsoft and Apple have also benefited from the rise of artificial intelligence, their stock price increases cannot compare to NVIDIA’s. Since January 19th of this year, Microsoft’s stock price has risen by approximately 11%, while Apple’s stock price has risen by around XNUMX%.
