NVIDIA's market value surpasses Amazon, the first time in the past 20 years.
On Monday, during the trading session, NVIDIA briefly rose by 1.5%, reaching a market value of $1.815 trillion. Amazon, on the other hand, experienced a slight decline of approximately 0.3%, with a market value of $1.805 trillion.
On Monday, February 12th, NVIDIA's market value surpassed that of Amazon, marking the first time in the past 20 years. NVIDIA's stock rose by 1.5% at one point, reaching a market value of $1.815 trillion. Amazon, on the other hand, experienced a slight decline of approximately 0.3%, resulting in a market value of $1.805 trillion. The last time NVIDIA's market value exceeded that of Amazon was in 2002 when both companies had a market value of less than $6 billion.
Currently, NVIDIA's market value still slightly lags behind Alphabet-C, the parent company of Alphabet-C, as well as Microsoft and Apple, which have a significant lead in terms of market value compared to other tech giants.
The market's enthusiasm for artificial intelligence has driven NVIDIA's stock price to soar since last year, more than doubling since the beginning of 2023. This strong upward trend has continued this year, with NVIDIA's stock price reaching record highs since the start of the new year, reaching a peak of $734 during Monday's trading session.
Major Wall Street banks such as Goldman Sachs, Bank of America, and Morgan Stanley have recently raised their target prices for NVIDIA, fueling bullish sentiment in the market. Last week, there were rumors that NVIDIA would enter the custom chip market, further solidifying its leadership position in AI chips and even potentially "recreating another Arm" internally. This news has continued to stimulate the latest surge in NVIDIA's stock price.
However, analysts from Nomura previously warned that if NVIDIA's earnings report disappoints or if US inflation reignites, it could potentially end this current bull run in the US stock market.