Nvidia stock eyes record high, looks to unseat Apple as world's most valuable company

Published On Oct 14, 2024, 10:38 AM

Nvidia's stock is climbing and is on track for a new record high, with shares currently priced at $137.87. The rise is attributed to increased investor enthusiasm surrounding the AI boom, notably following a $6.6 billion investment in OpenAI which will boost demand for Nvidia's AI chips. Analysts predict robust revenues from Nvidia's new products, and many recommend buying the stock due to a projected revenue increase of 82% year-over-year for Q4. Nvidia's performance positions it to potentially surpass Apple as the world's most valuable company, with current market caps of $3.4 trillion and $3.5 trillion respectively.