• Register

Stock market analytics, financial forecasts

Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

NVIDIA may surpass Apple in market value growth in a day


May, 25 2023
watermark Economic news

NVIDIA has released a report with financial results in the first quarter that exceeded analysts' expectations. 


The chip maker reported earnings per share of $1.09, earnings of $7.19B. Analysts on average assumed that earnings per share would be $0.92, and total revenue would be $6.52B. In addition, according to forecasts, the company's revenue in the second quarter, which ends in July, will be about $11 billion, which is 50% higher than analysts' forecasts.


In its report, NVIDIA also raised the demand forecast for its chips used in artificial intelligence (AI) applications, after which the company's shares jumped by 29%. Analysts note that if the indicator persists after the opening of trading, the company's market capitalization will grow by $219 billion per day and reach a historical maximum of $974 billion.


The success of NVIDIA shares even surpassed the one-day growth of Apple Inc. in November last year by $191 billion and growth of Amazon.com Inc in February 2022. However, unlike these companies, NVIDIA has not yet joined Apple and Amazon in the list of companies with a capitalization of $ 1 trillion.


In general, since the beginning of the year, the value of NVIDIA shares has risen by 108%. The current value of the company's securities is $306 per share.


Top Top