Tesla (TSLA) vaulted back above a $1 trillion market cap on Friday as part of massive run fueled by Donald Trump’s election victory. But it’s not the only giant to recently rejoin that exclusive club. Nvidia (NVDA) chipmaker Taiwan Semiconductor (TSM) is back above that level.
Meanwhile, Warren Buffett’s Berkshire Hathaway (BRKB) continues to trade around the $1 trillion market, closing just below that level on Friday.
Tesla stock continued to surge early Monday, while Berkshire stock might peek above the $1 trillion mark. But Taiwan Semi is in danger of undercutting that key level.
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Tesla Stock
Tesla stock spiked 29% to 321.22, the biggest weekly gain since the week ended Jan. 27, 2023. Tesla stock now a $1.03 trillion valuation, topping the $1 trillion for the first time in two years.
Musk was a huge Trump supporter, and could join the new administration in an official or advisory capacity.
It’s not clear how much Trump could or will do regarding EVs, or even if those moves would be a net benefit to Tesla. But TSLA stock shows that investors believe that Trump will be a boon to Tesla.
Wedbush analyst Dan Ives, a longtime Tesla bull, raised his TSLA price to 400 on Monday. Tesla stock jumped yet again.
Taiwan Semiconductor Stock
Taiwan Semiconductor is back above the $1 trillion level too, though its time below that key level was very brief. TSM stock rallied 4.3% to 201.20 last week, giving it a $1.04 trillion market cap. Shares first closed above the $1 trillion level on Oct. 17 following strong earnings, hitting a record 212.60 intraday. Shares drifted down to the 21-day line, closing back below $1 trillion a few times. But as of Nov. 5 it’s been back above that line.
Shares are arguably actionable from breaking a trendline last week within a short consolidation.
On Friday, Taiwan Semiconductor reported October revenue jumped 29% vs. a year earlier, led by high-priced artificial intelligence chips. Taiwan Semi makes chips for Nvidia, Broadcom (AVGO), Apple (AAPL) and many others.
Broadcom stock is among the stocks closest to joining the $1 trillion club, though at $857.7 billion has a ways to go.
Unlike Tesla and most stocks, Taiwan Semiconductor fell slightly on Wednesday. There are questions over the fate of Taiwan. Will mainland China seek to forcibly seize the island, and would President Trump defend Taiwan?
Taiwan Semiconductor stock fell slightly early Monday. The Biden administration has ordered TSMC to stop shipping advanced chips with AI uses to Chinese customers, Reuters reported Monday.
Warren Buffett Stock Berkshire Hathaway
Berkshire Hathaway stock rose 2.5% to 463.41, reversing higher for the week. On Monday, shares undercut the bottom of its flat base on Nov. 4 after reporting a 6% decline in Q3 operating earnings. The buy point is 484.82, but investors could use the Nov. 6 high of 469.26 as an early entry.
Warren Buffett’s Berkshire now has a $998.67 billion market cap. Berkshire stock closed above $1 trillion for the first time on Aug. 29, continuing to rise to a record 484.82 on Nov. 4. Since then shares have consolidated, sometimes setting above the $1 trillion mark but usually just below that level.
BRKB stock edged higher early Monday.
Nvidia Stock Is Most Valuable Company
Nvidia stock surged 9% to 147.63 last week, hitting a record high and reclaiming the title of the most valuable company. Its market cap is 3.62 billion vs. Apple stock $3.43 billion.
Microsoft (MSFT) follows with a $3.14 billion valuation. Amazon.com (AMZN) and Google-parent Alphabet (GOOGL) are virtually tied, at $2.189 billion and $2.183 billion, respectively.
Meta Platforms has a $1.49 billion market cap.
Nvidia and Amazon stock are in buy range, while Google and Meta stock are just below buy points.
Nvidia and Meta stock are on IBD Leaderboard, with Tesla stock on the Leaderboard watchlist. Nvidia stock is on SwingTrader and the IBD 50. Microsoft stock is on the IBD Long-Term Leaders list. Google was Friday’s IBD Stock Of The Day.
Please follow Ed Carson on Threads at @edcarson1971 and X/Twitter at @IBD_ECarson for stock market updates and more.
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