Nvidia, the world's most valuable company, has officially joined the Dow

Published On Nov 8, 2024, 12:58 PM

Nvidia has officially joined the Dow Jones Industrial Average, marking a significant milestone for the company in the artificial intelligence sector. Despite a decline in chip stocks recently, Nvidia’s stock has gained approximately 9% for the week, surpassing Apple to become the world's most valuable company with a market cap of $3.6 trillion. Analysts are bullish on Nvidia, with 90% recommending it as a buy, predicting its stock price to rise to around $149.38 within 12 months. The company faces potential challenges ahead due to trade policy uncertainties under the incoming presidential administration, particularly concerning Chinese imports, since it relies on Taiwanese manufacturing where components from China are involved. Nvidia is set to announce its quarterly earnings on November 20.