Will Nvidia Be a $2 Trillion Company in 2024?
Right now, only two U.S. companies have market caps greater than $2 trillion, Microsoft and Apple. As of Jan. 31, Nvidia (NASDAQ: NVDA) is the fifth-largest U.S. company (sixth-largest globally) with a $1.5 trillion market cap.
So, for Nvidia to reach a $2 trillion valuation in 2024, it would need to grow 33% from its current stock price. Is this out of the question? Or could Nvidia become the third company to obtain a $2 trillion market cap?
Nvidia's primary business is graphics processing units (GPUs). Although this hardware was originally slated to be used by individuals who wanted better graphics than their processors could create while gaming, the uses quickly expanded. Now, GPUs are used to power gaming rigs, mine cryptocurrency, process engineering simulations, and create artificial intelligence (AI) models.
Source Fool.com
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