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James Cakmak, Partner at Clockwise Capital, discusses Nvidia and the XLK ETF's rebalance.
Nvidia's (NASDAQ: NVDA ) current 10-for-1 stock split has gained investor's attention because it makes the Nvidia stock more accessible to small investors. Overall, Nvidia's performance has been awe-inspiring, with an 181.46% upside year-to-date.
Nvidia surpassed Microsoft and Apple this week to become the most valuable company in the world by market cap. It delivered sustained high revenue growth, but faces increasing competition.
Nvidia lost its spot as the world's most valuable company and analysts see short-term risks.
A look at the day ahead in U.S. and global markets from Mike Dolan
A look at the day ahead in U.S. and global markets from Mike Dolan
Nvidia's stock split brought the price of its shares down to about $135 from more than $1,200. Investors have welcomed the stock split, driving gains in the stock in recent weeks.
Nvidia (NASDAQ: NVDA) started the penultimate week of June strong as it climbed to become the world's biggest company by market capitalization after overtaking both Microsoft (NASDAQ: MSFT) and Apple (NASDAQ: AAPL).
Investors are gravitating to outperforming businesses conducting forward stock splits. Nvidia recently completed a 10-for-1 forward split -- its sixth since becoming a public company.
NVIDIA is a premier AI-driven growth story in the semiconductor space, expanding beyond GPUs to AI, VR, and HPC. Despite strong financial performance, its shares are priced to perfection and uncertain remains about the long-term growth potential in its key markets. We rate NVDA a Hold based on its super-premium valuation, though we acknowledge that fundamentals are on the company's side.