(Reuters) – Nvidia overtook Google-parent Alphabet’s stock market capitalization to become the third biggest U.S. company on Wednesday, days before the poster child of AI boom is due to report fourth-quarter results.
Strong demand for the Silicon Valley company’s chips used in artificial intelligence computing has powered the stock 231% in the past 12 months to record highs, taking its market value to $1.812 trillion.
In comparison, Alphabet’s market capitalization is $1.814 trillion.
With a 50% surge lifting Nvidia to the top spot among the S&P 500 components stock performance this year, the company has joined the league of Magnificent Seven stocks, surpassing retail giant Amazon.com earlier this month.
Wall Street expects Nvidia to post $11.38 billion in fourth-quarter profit, up more than a staggering 400% from a year ago. Its revenue is expected to surge more than three-fold to $20.37 billion.
Nvidia now trades 33.19 times its forward earnings estimates, above the industry median multiple of 27.35, per LSEG data.
A higher multiple indicates the stock is more likely to have priced in its earnings potential, leaving little room for further growth.
—By Medha Singh, Reuters
Ak chcete pridať komentár, prihláste sa
Ostatné príspevky v tejto skupine
Racist AI-generated videos are going viral on
Scientists are tracking a large gas planet experiencing quite a quandary as it orbits extremely close to a young star – a predicament never previously observed.
This exoplanet, as
Journey with me back to the good old days, if you will. There was a time that, when you’d buy a gadget, it’d come with a sometimes verbose but often helpful “instruction manual.”
Not a q
After more than a week of threats, Elon Musk formally launched the America
TikTok is building a new version of its app for
Copyright lawsuits and ethical debates have led some to say the AI ind
Alphabet’s Google has been hit by an EU antitrust complaint over its
