FX.co ★ Nvidia Might Soon Surpass Apple As World's Second-Most Valuable Company

Artificial intelligence chip powerhouse Nvidia (NVDA) is coming close to Apple (AAPL) and could soon leapfrog the iPhone producer to capture the position of the world's second-most valuable company. Nvidia, globally recognised for manufacturing superior quality chips, lags behind Apple's market valuation by a mere $230 billion.

This year, Nvidia's stock has skyrocketed by 95 percent, primarily driven by the mounting demand for artificial intelligence. Similarly, the shares of Meta Platforms (META) witnessed a surge of 46.6 percent in 2024, emphasising the ongoing artificial intelligence boom.

Nvidia's market valuation recently increased two-fold to $2 trillion from $1 trillion within nine months, surpassing Amazon (AMZN), Alphabet Inc. (the parent company of Google, GOOG), and Saudi Aramco (2222).

Last month, the chip manufacturer reported an impressive 769 percent increase in fourth-quarter profits and a 580 percent increase in annual profits compared to the previous year.

Additionally, several market analysts predict that Nvidia's stocks may split, considering it's nearing the $1,000 mark. Ken Mahoney, the President and CEO of Mahoney Asset Management, anticipates the stock split to invite more small retail investors who currently believe that the stock is beyond their reach, as reported by Bloomberg News.

It is essential to note that Nvidia last announced a quadruple stock split in May 2021 when its shares were valued at approximately $600.