New Company Overtakes Microsoft, Apple as Most Valuable
The text highlights that Nvidia Corporation, based in California, has become the most valuable company in the world as of a recent Tuesday, surpassing tech giants Apple and Microsoft. Nvidia’s market value reached $3.329 trillion, closely followed by Microsoft at $3.321 trillion, and Apple at $3.279 trillion. This marks a significant shift as Apple had previously held the title of the most valuable company for several years until being overtaken by Microsoft earlier in the year. Nvidia’s stock prices have escalated considerably, starting the year at $48.16 per share and soaring to $135.21 by late Tuesday afternoon.
Nvidia’s remarkable valuation growth is largely attributed to its advancements in artificial intelligence technology, catalyzing investor optimism. The company is noted as a leader in AI technology with unparalleled AI chips, drawing widespread acclaim within the technology sector. However, there are considerations and warnings about potential market corrections that could affect Nvidia if any setbacks occur.
The document ends with a note from the Deputy Managing Manager of Western Journal, voicing concerns about political tensions and the urgency of support for their journalism efforts amid challenging conditions imposed by ‘Big Tech’ and political entities.
Microsoft, Apple Knocked Off Top Spots as New Most Valuable Company Emerges
By Johnathan Jones June 18, 2024 at 2:04pm
The California-based tech firm Nvidia Corporation became the world’s highest-valued company on Tuesday, knocking off Big Tech titans Apple and Microsoft to take the top spot.
Yahoo Finance reported shares of the firm and chip maker rose before Tuesday’s opening bell, putting Nvidia’s value at $3.329 trillion.
Microsoft was a close second with a market capitalization of $3.321 trillion, while Apple came in third with a still-massive value of $3.279 trillion.
As The Economic Times noted, Apple had been the world’s most valued company for years until January, when it lost that mantle to Microsoft.
Nvidia’s shares were trading at $135.21 late Tuesday afternoon after they opened at $131.27.
Alphabet (Google) and Amazon respectively came in as the fourth and fifth most valuable companies on Wall Street Tuesday.
Nvidia is officially the most-valuable company in the world
Added $3 trillion in market cap over the last 20 months
Unbelievable pic.twitter.com/9xwEfFHueG
— Morning Brew ☕️ (@MorningBrew) June 18, 2024
The company’s stock value has climbed throughout the first two quarters of 2024.
On Jan. 2, shares of Nvidia opened trading at $48.16.
The company’s value has taken off since, thanks in large part to the popularity and potential of artificial intelligence.
NVIDIA is the now the most valuable company in the world.
Wild chart. pic.twitter.com/q2huOpAgKl
— Pomp 🌪 (@APompliano) June 18, 2024
Nvidia is among the most prominent and trusted suppliers of AI technology.
As Reuters noted, the surge in the company’s value is driven by optimism among traders that AI is not only here to stay but will only become more prominent and refined.
Steve Sosnick with the brokerage firm Interactive Brokers LLC told the wire service that Nvidia is currently the envy of the tech world.
“It’s Nvidia’s market; we’re all just trading in it,” Sosnick said shortly after the company became the world’s wealthiest.
As Reuters also noted, Nvidia has consistently over-performed expectations, thanks in large part to the dependability of its AI chips, which are considered second to none.
Nvidia in the past year:
Today: becomes most valuable public company
June 2024: reaches $3 trillion valuation
Feb 2024: reaches $2 trillion valuation
May 2023: reaches $1 trillion valuation pic.twitter.com/02KObAfBnm
— Jon Erlichman (@JonErlichman) June 18, 2024
Still, not everyone is sold on the company’s continued growth.
Oliver Pursche of the financial consulting firm Wealthspire Advisors cautioned on Tuesday that Nvidia’s investors might be due for a rude awakening, depending on whether the company continues to shine.
“Nvidia has been getting a lot of positive attention and has been doing a lot of things very correctly, but a small misstep is likely to cause a major correction in the stock, and investors should be careful,” Pursche said.
A Note from Our Deputy Managing Editor:
“We don’t even know if an election will be held in 2024.” Those 12 words have been stuck in my head since I first read them.
Former Lt. Gen. Michael Flynn recently made that comment to Floyd Brown, founder of The Western Journal.
And if the leftists and the elites get their way, that’s exactly what will happen — no real election, no real choice for the Electoral College, and no real say for the American people.
The Western Journal is fighting to keep that from happening, but we can’t do it alone.
We work tirelessly to expose the lying leftist media and the corrupt America-hating elites.
But Big Tech’s stranglehold is now so tight that without help from you, we will not be able to continue the fight.
The 2024 election is literally the most important election for every living American. We have to unite and fight for our country, otherwise we will lose it. And if we lose the America we love in 2024, we’ll lose it for good. Can we count on you to help?
With you we will be able to field journalists, do more investigative work, expose more corruption, and get desperately needed truth to millions of Americans.
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