NVIDIA (NVDA) crosses $1 trillion market cap for first time
NVIDIA is still riding high off of its recent stock surge and joins a handful of tech companies that have crossed the $1 trillion USD mark.
Following its most recent earnings results, NVIDIA stock price rose sharply and as of this week, the company crossed the $1 trillion USD mark on its market cap. NVIDIA shared major confidence in its next fiscal quarter and raised its guidance by a large margin against expectations. This comes on the back of NVIDIA’s heavy investment into AI technology and partnerships, which is also working out quite well for it.
NVIDIA’s market cap reached the $1 trillion mark as markets opened following Memorial Day, as spotted by CNBC. The company opened at a stock price of around $405.96 per NVDA share on Tuesday, May 30. It then rose to around $409 per share. The company would have had to keep that share value above the $405 mark to hold the $1 trillion market cap value for the day, but it has since cooled down to around $400. Nonetheless, today’s strong opening for NVIDIA makes it one of only a handful of companies to achieve such highs, including Apple, Alphabet (Google), Amazon, and Microsoft.
Source: Google
NVIDIA’s strong start to this week comes off strong results in its Q1 2024 quarterly reporting, where the company not only beat earnings-per-share (EPS) and revenue expectations, but it also raised its guidance for Q2 2024 quite a bit over estimates. Where analysts expected guidance of about $7.2 billion USD for NVIDIA’s Q2, the company instead set its sights on $11 billion in revenue for the quarter. NVIDIA has also gone all-in on AI technology and partnerships, as shown in many of the reveals and announcements during its GTC 2023 presentation.
NVIDIA shares remained up about 166.5% year-to-date coming into Tuesday. It will be interesting to see if it can hold that valuation and secure its $1 trillion market cap among a very small collection of tech companies. Stay tuned as we report on further NVIDIA updates right here at Shacknews.
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replyTJ Denzer posted a new article, NVIDIA (NVDA) crosses $1 trillion market cap for first time
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nvidia just hit 1 trillion market cap.
https://www.cnbc.com/2023/05/30/nvidia-on-track-to-hit-1-trillion-market-cap-when-market-opens.html
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Awesome. They have so much cash now they might drop the price on GPUs to help us out a little
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Arizona Iced Tea and Costco Hot Dogs.
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you jest but imagine if they dropped all their prices right now by like $300-$500 dollars and just wiped AMD GPUs off the planet.
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if you watched any clips of the Nvidia Computex Keynote.. yah the days of cheap GPUs are gone. Jensen Huang has completely lost touch with the average consumer.
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It's Computex, plus the company is done with the 40-series launches so the only stuff left to talk about is the expensive shit.
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yah I know it's not a gaming show.. but still the presentation clips I saw were soo cringe and just scream they've gotten soo complacent in their spot and out of touch. With how bad the 4060 & 4060Ti are selling apparently, I honestly wouldn't be surprised if Nvidia just says peace out on the mid-range and low-end skus completely. I don't think they'll drop the low end completely of course just likely they'll end up getting recycled GPUs from previous generations. Which was typically only reserved for the very low-end $100-ish or below tier cards.
For a long time now I pretty much upgraded every generation.. I seriously doubt I'll take that plunge with the 50 series. Nvidia would have to drop prices significantly and I just don't see that happening.
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If you were upgrading every generation then you’re in like the 0.1%. Even if Nvidia had good $300-400 cards most people wouldn’t upgrade yearly so it doesn’t make any sense for Nvidia to make or price products with that in mind.
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We'll see, it's beginning to follow Microsoft in the good/bad launch cycle so 50 series could be pretty special.
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i feel like this isn't even really a drag at this point. the average consumer is rocking a GTX 1650, why would they give a shit?
this has been coming for a long time. go back and watch some of the reviews of the top-end products over the last ten years - what's the overwhelming sentiment? "yes this is the fastest GPU you can buy, but you'd be fucking stupid to buy it. just buy the <insert moderately priced GPU here> and get 75% of the performance for 35% of the price!"
yeah well investors and shareholders saw those reviews as well. it's literally just business.
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Is that before or after Apple has made MacIntoshes cheaper so more people would buy those instead of PC's?
lol of course it won't happen.
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Makes me wonder how long they'll keep giving away money to their partners like Asus, Gigabyte, etc...and say fuck it, just go full Apple and do it themselves.
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I remember buying 10 shares of their IPO when it first came out at like $10 ea and then sold it when it hit $100 ea excited that I made 10x and had a cool $1000 ! I was like 20 or 21 or something at the time, so that was a big deal for me. I knew nothing of stocks, I just thought 3D games were cool.
If I would have forgotten I even owned it and discovered that account just now, I don’t even want to know how much that would be worth :(-
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I wonder what that same $100 would have done for different stocks in the same time period.
I'm thinking of stocks like Netflix and Amazon.-
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I remember vividly reading that Netflix had the fastest price increase of pretty much of all of the stocks but Amazon's play was also impressive if you were willing to wait longer for it. Amazon's was ultimately more profitable compared to Netflix over a very long run of a much longer date range.
I suppose you could do the same thing with Dell stock if you went back in time and started buying Dell stock in the early 1990's and then sell it at it's peak around 1998 or 1999.
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But it'll trickle down.
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2008 - "This image of Intel as an unstoppable graphics juggernaut is what Huang takes issue with. What set him off initially was a comment from an Intel graphics and gaming technologist who said that consumers "probably won't need" discrete cards in the future. Nvidia's primary business is designing and supplying graphics chips for discrete graphics cards that go into PCs."
https://www.cnet.com/science/nvidia-ceo-goes-on-intel-rant/
Intel's market cap is now $120 billion or so. -
Want to hear an awesome story? Back in December 2012, when my first son was imminently due for birth, I set aside $6,000 to invest for his/our future. $6,000 isn't a ton of money by any stretch, but 11 years ago it was quite a bit for me because my wife was still in school full time and so we were single income (this was also before I started doing Disney travel agency work). I waffled back and forth on putting $6k on stocks as opposed to a 529. I was HEAVILY eyeing NVDA. I wanted badly to put all my eggs in that one basket. However, the "smarter" side of my brain eventually prevailed and I put it in a 529 with a few vanguard funds.
That $6k would be worth over $700,000 right now if I would have stuck with my emotions.-
Warren Buffet invested in Apple in like 2016 or something. Oh to go back in time!
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The RTX 4060 Ti pushed it over the limit, kudos Jensen!!
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On another related story.. Nvidia looking at Intel FABs for future chips - https://www.tomshardware.com/news/nvidia-ceo-intel-test-chip-results-for-next-gen-process-look-good
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Fuck yeah, 'merica
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Yah who know if they'd be looking at Intel for Consumer GPUs anyway... this could be for their Datacenter class GPUs.
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Yeah, about that... https://www.wsj.com/articles/intel-gelsinger-nvidia-turnaround-30febac6
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I hope the short sighted, quarterly focused band of fuckwits over at Intel are stewing because a chunk of that hype Nvidia is riding could easily have been theirs. They weren't disciplined enough to wipe the wall street haze from their eyes and pull their thumb out of their ass over the past 8-10 years to focus on other product segments, like GPUs.
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was Intel not the same quarterly focused public company when x86 was the center of the universe? I doubt they were that much less concerned with meeting Wall St expectations then. It was just much easier to do once they built the behemoth and now it's that much harder to do because of the baggage of that behemoth. It's not like they didn't expend effort on mobile and GPUs in the past.
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They got addicted to the fat profit margins their x86 line had historically produced and allowed it to dictate their business. Anything that didn't appear to have a similar level of profitability, anything that wasn't a sure thing or even encroached on their traditional CPU business, was put out to pasture. New product lines never materialized or were shut down after a few years when lofty expectations weren't met. That's not long enough to gain a foothold and carve out marketshare. It's is marathon vs sprint type of thinking. Samsung did not come to dominate the memory market overnight. They started slow and very humble. Intel has been puffed up with too much pride. They staked their post in x86 while markets slowly changed around them or passed them by over the past 15-20 years...and here we are.
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Similar to Microsoft in many ways as far as missing the boat on many big things.
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I think you're just vastly overestimating how easy it is for even well run companies to avoid disruption from low cost competitors.
In any case, the story here isn't Intel missing GPUs, it's them missing mobile. If Intel was powering every iPhone and Android phone the way they did with Windows no one would be complaining.
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