MARKET MARVEL 

10 REASONS WHY NVIDIA'S MARKET CAP SKYROCKETED 

Published By MintGenie Team | 23 Feb, 2024
Nvidia's stock price surged by 16% to $785.38, resulting in a record-breaking increase in market value by $277 billion in a single day.
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The company's total market capitalization now stands at $1.89 trillion, making it the third-largest US company, trailing behind Microsoft and Apple.
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Nvidia reported better-than-expected fourth-quarter earnings, coupled with a remarkable sales forecast, driving the significant increase in market value.
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The $277 billion surge in market value surpasses the combined market capitalization of all listed IT companies in India, which totals approximately $260 billion.
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It also exceeds the market capitalization of India’s most valuable company, Reliance Industries, valued at approximately $240 billion.
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The surge is enough to fund the International Space Station for 57 years, based on its annual budget of around $4.8 billion.
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This figure is more than the combined market value of all publicly traded companies in Iceland, totaling approximately $240 billion.
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Nvidia's unprecedented market value increase reflects not only its strong financial performance but also its significant impact on the global market.
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Fourth-quarter revenue jumped to $22.10 billion, beating estimates, with adjusted earnings of $5.16 per share.
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Nvidia forecasted first-quarter revenue growth of 233%, ahead of Wall Street expectations, with revenue for the quarter projected at $24.0 billion.
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