1
Feature Story
Nvidia Briefly Tops Amazon in Market Value, Becomes 4th Most Valuable US Company
Feb 13, 2024 · techtimes.com
Despite Nvidia's $9.2 billion profit last quarter being significantly less than Apple's and Microsoft's over $22 billion earnings, analysts predict that Nvidia's financials will soon close the gap. The company's stock has soared 223% over the last 12 months, making it the highest-performing stock among the "Magnificent Seven" due to strong AI demand. Another AI chipmaker, Arm Holdings, also saw its stocks increase by more than 40% recently, following a quarterly outlook that exceeded Wall Street's expectations.
Key takeaways
- Nvidia briefly surpassed Amazon in market value, becoming the 4th most valuable company in the US with a market value of $1.82 trillion.
- Nvidia's profits before interest, taxes, depreciation, and amortization (EBITDA) climbed by more than 500% in the most recent quarter compared to last year, mainly due to the growth of its artificial intelligence division.
- Nvidia's stock has soared 223% over the last 12 months, making it the highest performing stock among the so-called "Magnificent Seven".
- Another AI chipmaker, Arm Holdings, saw its stocks increase by more than 40% on Monday, following a quarterly outlook that exceeded Wall Street's expectations.