Stocks
Nvidia Surpasses Apple as World's Largest Company by Market Cap
Nvidia has surpassed Apple as the world's largest company by market cap, with a valuation of about $5.4 trillion compared to Apple's $5 trillion.
The growth rate of Nvidia is predicted to blow Apple away over the next year, with a 106% year-over-year revenue growth in its fiscal Q2 to $96.2 billion.
Nvidia's business is centered around semiconductor GPUs, which are in high demand and short supply due to the artificial intelligence (AI) build-out, contributing to a 70% revenue growth forecast for next year.
The price-to-earnings ratio shows that Nvidia trades at a huge discount to Apple, making it a better buy for investors seeking maximum returns.