TECH - Ming-Chi Kuo's Prediction Comes True As Nvidia Surpasses Apple Becoming The Second Most Valuable Company: Strong AI Growth Contrasts 'Innovation Challenges' Faced By Consumer Electronics | Benzinga

On Wednesday, Nvidia Corporation (NASDAQ:NVDA) surpassed Apple Inc. (NASDAQ:AAPL) in terms of market capitalization, becoming the second most valuable company in the world. This development fulfills a prediction made three months ago by analyst Ming-Chi Kuo.

What Happened: In March, Kuo, an analyst at TF Securities, had forecasted that Nvidia’s market cap would likely surpass Apple’s. He based this prediction on the declining market consensus for 2024 iPhone shipments and the potential failure of the Tim Cook-led tech giant to launch impressive generative AI services.

On Wednesday, Kuo re-shared his earlier prediction, stating, “The prediction from three months ago has come true. This is not just a comparison of Nvidia and Apple's stock prices but a contrast between the strong growth trend of AI and the innovation challenges faced by consumer electronics.”

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