Nvidia Surges to $1,090/Share, Market Cap Hits $2.7 Trillion, Just 9% Away from Apple

May 27, 2024, 03:09 PM

Nvidia has seen a remarkable surge in its stock price, reaching $1,090 per share in overnight trading, which has propelled its market capitalization to a record $2.7 trillion. This makes Nvidia the third largest company in the world, just 9% away from surpassing Apple as the second largest. Nvidia's stock has increased by 125% in 2024, cementing its dominance in the tech sector. Over the past decade, Nvidia has achieved a staggering 22,080% growth, outperforming other mega-cap companies such as Microsoft, Apple, Amazon, Meta, and Alphabet. Nvidia's earnings reports and its rise to chip stardom have further solidified its position in the market. The company's valuation is now larger than two Metas, three Berkshire Hathaways, or five ExxonMobils. In recent overnight trading, 60K shares were exchanged, underscoring investor enthusiasm. Nvidia's earnings have sealed Big Tech stock dominance.