Nvidia is poised to surpass Tim Cook’s Apple to become the world’s second-most valuable company, as the kingmaker behind the AI revolution, so far largely missed by Apple, passes by the Cupertino-based iPhone-maker.
The reliance of virtually all artificial intelligence applications such as OpenAI’s ChatGPT on Nvidia’s high-end chips has helped the stock nearly triple in value over the past year to $2.72 trillion.
In contrast, Apple ceded its No. 1 spot to Microsoft earlier this year as the once high-flying company grapples with weak demand for its iPhones and tough competition in China. It was last valued at $2.93 trillion.
“It is certainly notable because Apple has been so dominant for so long, especially on the growth and innovation front. Recently though, Apple’s innovation curve seems to have flattened, showing slower future growth,” said Brian Mulberry, client portfolio manager at Zacks Investment Management.
Nvidia also became the fastest company to grow from $1 trillion to $2 trillion in 2024, zooming past Amazon, Google-parent Alphabet, and Saudi Aramco.
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MacDailyNews Note: Apple is currently worth $2.914 trillion vs. Nvidia’s $2.654 trillion. Apple may be able to hold onto the second spot until WWDC, where it may get an AI-related boost itself.
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Well …. Being in third place is not such a bad position to be. The EU Commissars will now focus their “law fare” on others …
I would like to open my store inside nvidia chip and advertise competitive products. Is nvidia going to allow this?
Apple doesn’t stand much of a chance with analysts giving Nvidia a $4,000 share price and a $10T market cap in just a few short years. That’s absolutely crazy, in my opinion. It’s difficult to believe that many companies will be buying A.I. servers year after year from Nvidia, especially once they find out how expensive A.I. servers are to maintain and with no guarantee they will give huge financial returns. Whatever, if the analysts say it’s going to happen, what do I know. As a human, I’m not for A.I. replacing human jobs. I’m retired so it doesn’t affect me directly, but I simply don’t like the idea of plenty of humans being jobless. It doesn’t make sense to me if people are willing to work.