PHOTO: ReutersNvidia could soon surpass Apple to become the world's second-most valuable company, as the biggest beneficiary of the surge in adoption of AI applications takes on the iPhone maker that has been the largest Wall Street firm by market value for years.
"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.com, Google-parent Alphabet and Saudi Aramco.
It traded at 37 times forward earnings, compared with 48 times earnings a year ago, LSEG data showed.Nvidia is also popular in the derivatives market. GraniteShares 2x Long NVDA Daily ETF, which tracks twice the daily percentage change in Nvidia, is the largest single stock ETF.
Source: News Formal (newsformal.com)
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