NVIDIA Corporation (NASDAQ: NVDA) has overtaken Alphabet (NASDAQ: GOOG) as the third most valuable company in the United States. With a staggering market capitalization of $1.83 trillion, NVDA stock soared to new heights on Wednesday, defying expectations and solidifying its dominance in the tech sector.
NVIDIA (NASDAQ: NVDA) stock rose by 2.46% on Wednesday, propelling the company ahead of Alphabet (NASDAQ: GOOG) with a market capitalization of $1.832 trillion, just edging past Alphabet’s $1.814 trillion.
The artificial intelligence (AI) and semiconductor giant achieved this milestone amidst a steady rise in its stock value throughout the month.
Notably, this feat places NVIDIA just behind Microsoft (NASDAQ: MSFT) and Apple (NASDAQ: AAPL) based on market value.
Moreover, NVIDIA’s triumph extends beyond Alphabet, as it also eclipsed another tech giant, Amazon (NASDAQ: AMZN), in market valuation on Tuesday. This marks the first time since April 18, 2022, that NVIDIA has surpassed Amazon, with a current market cap of $1.83 trillion compared to Amazon’s $1.78 trillion.
The impending earnings report scheduled for February 21 adds to the anticipation surrounding NVIDIA’s remarkable performance. Analysts expect substantial growth, with projections indicating a staggering 400% increase in fourth-quarter profit to $11.38 billion and revenue surging more than three-fold to $20.37 billion.
If NVIDIA meets or exceeds these expectations, it could consolidate its position as the world’s third-highest-valued company, solidifying its dominance in the tech sector.
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