Nvidia stock rises to another record high as the AI trade continues to dominate markets.
Ultimately, earnings drive share prices. Only two Magnificent Seven stocks, and a third megacap, meet this triple-25% growth standard.
(Reuters) -Shares of Nvidia rallied to record highs on Wednesday, with the AI chipmaker's stock market valuation on the verge of hitting the $3 trillion mark and overtaking Apple to become the world's second most valuable company. The latest rally in Nvidia comes as it prepares to split its stock ten-for-one, effective on June 7, a move that could increase its appeal to individual investors. Nvidia's stock has surged 145% so far in 2024, with demand for its top-of-the-line processors far outstripping supply as Microsoft, Meta Platforms and Google-owner Alphabet race to build out their AI computing capabilities and dominate the emerging technology.