- Nvidia's shares rallied around 6% to hit a record high on Tuesday, leaving the AI chipmaker's stock market value about $100 billion away from overtaking Apple in a major reshuffle of Wall street's biggest players.
"The market has been struggling to keep up with the company's ever improving growth trajectory. At a mid-thirties forward earnings multiple, this still doesn't feel like bubble territory," said Derren Nathan, head of equity analysis at Hargreaves Lansdown. "Business is doing incredibly well, there are so many opportunities to keep growing, and the AI theme still has legs. When the song is that catchy, investors want to keep humming it all day long, said Dan Coatsworth, investment analyst at AJ Bell when asked about the stock's rally.
Forget Magnificent Seven: Hedge Funds are Pouring Money Into This Utility Stock to Cash In On AI Boom
United States United States Latest News, United States United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: SaltWire Network - 🏆 45. / 63 Read more »