Key Takeaways
- Nvidia could be poised to claim the title of most valuable company in history, as its market capitalization nears $4 trillion.
- The chipmaker’s shares closed at an all-time high Thursday, bringing its market value closer to Apple’s record of $3.91 trillion set in December.
- Wedbush analysts said they believe Nvidia and Microsoft could breach the $4 trillion threshold this summer, something no company has done yet.
Nvidia (NVDA) could be poised to claim the title of most valuable company in history, as its market value nears $4 trillion.
The AI chipmaker’s shares rose just over 1% to close at an all-time high of $159.34 Thursday, pushing its market capitalization to $3.89 trillion. If the stock had sustained its intraday highs closer to $161, its market value would have topped Apple’s (AAPL) closing record of $3.91 trillion in December.
With another roughly 3% rise from Thursday’s closing price to $163.93, Nvidia could also hit the $4 trillion market cap threshold soon, something no other company has done. Microsoft (MSFT), which has jockeyed with Nvidia this year for the title of world’s most valuable company, could too, according to Wedbush analysts led by Dan Ives.
“We believe both Nvidia and Microsoft will hit the $4 trillion market cap club this summer and then over the next 18 months the focus will be on the $5 trillion club….as this tech bull market is still early being led by the AI Revolution,” the analysts said in a note to clients Thursday.
Thursday’s rise came amid broader market gains, with the benchmark S&P 500 index and tech-heavy Nasdaq hitting all-time highs ahead of a long holiday weekend. The stock market closed early at 1 p.m. ET Thursday ahead of the July 4 holiday on Friday.
