{"id":51584,"date":"2023-08-22T11:31:57","date_gmt":"2023-08-22T15:31:57","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/nvidia-stock-hits-all-time-high-after-315-surge-easily-outpacing-its-peers\/"},"modified":"2023-08-22T11:32:00","modified_gmt":"2023-08-22T15:32:00","slug":"nvidia-stock-hits-all-time-high-after-315-surge-easily-outpacing-its-peers","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=51584","title":{"rendered":"Nvidia Stock Hits All-Time High After 315% Surge\u2014Easily Outpacing Its Peers"},"content":{"rendered":"
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Topline<\/h2>\n

Shares of Nvidia opened Tuesday at their highest level on record, while investors pile into the freshly minted trillion-dollar company as it translates the artificial intelligence boom into stock gains far greater than any of its peers.<\/p>\n

Key Facts<\/h2>\n
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Nvidia stock jumped as much as 3% to $481.87, building on its 8% gain Monday and coming in just above its all-time high of $480.88.<\/p>\n<\/p><\/div>\n

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The rally comes a day before the chipmaker will reveal its performance last quarter, when analysts project Nvidia\u2019s profits to more than quadruple year-over-year thanks to an expected doubling of sales in its AI segment, according to FactSet data.<\/p>\n<\/p><\/div>\n

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Nvidia shares are now up a whopping 315% since last October: No other S&P 500 company has gained more than 128% over the stretch.<\/p>\n<\/p><\/div>\n

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Still, other stocks directly or partially exposed to AI have far outperformed the broader market this year, as Meta (up 142%), Tesla (up 92%), Palo Alto Networks (up 72%), Advanced Micro Devices (up 67%), Amazon (up 61%), Salesforce (up 58%), Adobe (up 56%) and Arista Networks (up 53%) are all among the S&P\u2019s top 20 performers in 2023, easily topping the median 3% year-to-date return for stocks listed on the index.<\/p>\n

<\/fbs-ad>\n <\/div>\n

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Despite the stupendous spike, many think Nvidia stock still has further room for growth: Analysts\u2019 average price target of $538, as tracked by FactSet, implies 12% upside.<\/p>\n<\/p><\/div>\n

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Rosenblatt analyst Hans Mosesmann, whose $800 target for Nvidia is the highest on Wall Street, wrote last week the company \u201cstands in a league of its own when it comes to software and AI solutions;\u201d his rating pegs Nvidia\u2019s proper valuation at $2 trillion, which would make it the fourth-largest company in the world after only Apple, Microsoft and Saudi Aramco.<\/p>\n<\/p><\/div>\n<\/div>\n

Big Number<\/h2>\n

$890 billion. That\u2019s how much market capitalization Nvidia has gained over the last 10 months. That tops the combined valuation of the U.S.\u2019 largest bank JPMorgan Chase and brick-and-mortar retailer Walmart.<\/p>\n

Surprising Fact<\/h2>\n

Though sales are growing, Nvidia\u2019s surging stock comes as its relative value grows at historic levels. The firm\u2019s price-to-earnings ratio, which tracks share price to trailing 12-month earnings, exploded from roughly 50 to nearly 250 since last fall. The median P\/E ratio for all S&P companies is about 25.<\/p>\n

Crucial Quote<\/h2>\n

Nvidia\u2019s billionaire CEO Jensen Huang is the \u201cgodfather of AI,\u201d Wedbush analyst Dan Ives proclaimed in a recent note. Huang\u2019s net worth has surged from about $14 billion to $43 billion this year, according to Forbes<\/em>\u2019 calculations.<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Topline Shares of Nvidia opened Tuesday at their highest level on record, while investors pile into the freshly minted trillion-dollar company as it translates the artificial intelligence boom into stock gains far greater than any of its peers. Key Facts Nvidia stock jumped as much as 3% to $481.87, building on its 8% gain Monday […]<\/p>\n","protected":false},"author":1,"featured_media":51585,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-51584","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-markets","tag-featured"],"yoast_head":"\nNvidia Stock Hits All-Time High After 315% Surge\u2014Easily Outpacing Its Peers | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Topline Shares of Nvidia opened Tuesday at their highest level on record, while investors pile into the freshly minted trillion-dollar company as it\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=51584\" \/>\n<meta property=\"og:locale\" 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