Nvidia’s market cap of $1.7 trillion surpasses the entire Chinese stock market: Investment Strategist – NVIDIA (NASDAQ:NVDA)

Nvidia Corporation NVDA it achieved a market valuation equal to that of the entire Chinese stock market, a first in history.

What happened: According to recent research from Nvidia, a major chipmaker, Nvidia’s market capitalization has increased by $600 billion over the past two months, reaching $1.7 trillion. Bank of America chief investment strategist Michael HarnetBusiness Insider reported.

This valuation is now on par with the combined market capitalization of all Chinese companies listed on the Hong Kong Stock Exchange. Nvidia’s market capitalization has nearly quadrupled since the start of 2023, with its shares rising 239% in 2023 and a further 41% in 2024.

See also: A Surge Against All Odds: Nvidia’s Surprising 41% Growth in 2024 Amid Global Challenges

Meanwhile, China’s economic difficulties have led to a significant drop in stock prices. The Hang Seng Index, a key gauge for Chinese stocks listed in Hong Kong, has fallen 26% over the past year and 8% year to date.

Because matter: Despite its notable growth, some experts have expressed concern about Nvidia’s valuation. Aswath DamodaranOften referred to as the “Dean of Valuation,” he previously said that Nvidia stock is “priced to the point of insanity.”

However, other analysts have a more optimistic view of Nvidia’s future. Joseph Moorean analyst at Morgan Stanleypreviously reiterated an Overweight rating on Nvidia and raised its price target to $750, citing the company’s strong near-term results and unique valuation.

Additionally, Nvidia’s recent partnership with Cisco Systems The expansion of AI technology into the corporate sector has further strengthened its position as the most valuable chipmaker globally.

Analysts are optimistic about Nvidia’s future growth potential Vivek Arya Bank of America expects significant upside in the company’s quarterly earnings, driven by AI innovations and the upcoming launch of the B100 accelerator.

Read next: Nvidia’s RTX 4090 graphics cards frenzy: Supply crunch hits hard amid soaring global demand and US sanctions

Disclaimer: This content was partially produced with the help of Benzinga Neuro and has been reviewed and published by Benzinga Editors.

Photo via Shutterstock.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *