Apple Sweating as Nvidia’s AI Chips Power Its Run for the Most Valuable Company on Earth...

ICYMI, Nvidia is making big moves this Monday and could overtake Apple as the most valuable company in the world, like, any second now. Shares of the AI chip juggernaut roared to a peak of 3.77% from last week's close (up 2.72% at the time of this writing) - as Wall Street analysts doubled down on their bullish outlook for the company. What’s interesting is that, Nvidia has already locked down the second spot, kicking poor Microsoft to the curb, but now it’s eyeing Apple’s throne, and it’s not even trying to be subtle about it. 

(Source: Bloomberg) 

So how did we get here? Well as I’m sure you already know, Nvidia has been riding a wave of AI hype that’s seen its market cap balloon by $780 billion since September. Legit wild. 

The reason being is due to Nvidia’s dominance in AI chips as the go-to supplier for everyone from your friendly neighborhood hyperscaler (like Microsoft, Alphabet, and Meta) to ChatGPT’s OpenAI, which just raised a casual $6.6 billion in funding. Meaning, all that cash is headed straight into Jensen Huang’s 10b5-1 plan Nvidia’s pockets to feed OpenAI’s insatiable demand for more GPUs.

(Source: The Street) 

And Wall Street is more than frothing at the mouth because of it. For instance, Goldman Sachs analyst Toshiya Hari is the latest to jump on the Nvidia hype train, bumping his price target by $15 to $150 per share. Hari’s take? Nvidia’s basically printing money as the complexity of AI workloads continues to skyrocket. As AI models get bigger, weirder, and more capable of doing things like generating synthetic data and taking way too long to “think,” Nvidia’s chips are going to be in even higher demand.

(Source: Giphy) 

Oh, and in case you’re wondering if this is all just smoke and mirrors… the numbers don’t lie. Nvidia currently controls a whopping 67% of the AI accelerator market across the big four U.S. cloud providers. That’s more than just a "leading position"—it’s a total hammerlock. And let’s not forget that Nvidia’s closest rival, AMD, just admitted that the AI accelerator market could hit $500 billion by 2028. Nvidia is expected to snag 75% of that pie. You do the math.

(Source: Bitget) 

Additionally, Citigroup’s Atif Malik is equally bullish, reiterating his own $150 price target and highlighting that Nvidia’s Blackwell chips—its latest and greatest—are expected to rake in $7 billion in Q4 alone. And if that wasn’t enough to get investors all horned up, Nvidia is also making big moves outside of just chips. For example, they are in the process of teaming up with Foxconn to build Taiwan’s largest supercomputer and a mega factory in Mexico to assemble Nvidia servers. Yeah, it’s a whole thing.

Meanwhile, Apple’s just over there clutching its iPhones and hoping no one notices.

(Source: Giphy) 

As of Monday, Nvidia’s market cap was sitting at $3.4 trillion—just a hair behind Apple’s $3.5 trillion. With Nvidia stock hitting record highs and Apple’s supply chain issues still making headlines, it’s not hard to see how Nvidia could swoop in and steal the crown. And don’t forget, Nvidia’s stock has been on an absolute tear this month, posting six straight days of gains at one point.

(Source: MarketWatch) 

So, what’s next? Well, Nvidia’s got its earnings report coming up in November, and Wall Street’s expecting some pretty jaw-dropping numbers. If Nvidia keeps up this pace—and if AI continues to be the hottest thing since sliced bread—there’s a good chance we’ll be calling Jensen Huang the CEO of the world’s most valuable company by the time the year is out.

In the meantime, Apple might want to start working on upgrading its own AI game plan (outside of Apple Intelligence)… or just hope Nvidia gets distracted by something shiny. But until then, let the bandwagon continue my friends - As always, stay safe and stay frosty! Until next time… 

P.S. I know It’s Monday, so I’ll make this quick. We've successfully predicted up to 16 triple-digit (100% or more) opportunities nearly every single week for the past four months... and our next alert is set to be released early next week. Meaning, if you haven't done so yet, I'd highly suggest clicking here ASAP and joining the 2,000+ Stocks.News Premium Members.

Stocks.News holds positions in Apple, Microsoft, Alphabet, and Meta as mentioned in the article.