TECH - Nvidia's Valuation Set To Leapfrog Past Amazon Alphabet As AI Stalwart's Stock Closes In On $700 Mark: Is The Meteoric Climb Sustainable? | Benzinga
Nvidia Corp. (NASDAQ:NVDA) shares rallied 4.79% on Monday after Goldman Sachs raised the price target to $800. Monday’s gain pushed the stock to a fresh closing high of $693.32, and in the after-hours session, it added an incremental 1.25% to $702.
Onward And Upward: Nvidia ended 2023 as the best-performing S&P 500 stock with a gain of 239%, and the upward momentum continued into the new year. The stock has surged up 40% this year, outperforming the iShares Semiconductor ETF (NASDAQ:SOXX), the S&P 500 Index, and the Nasdaq 100 Index, which are up 4.95%, 3.63%, and 4.68%, respectively for the year-to-date period.
Chart courtesy of Benzinga
At the end of Monday’s session, Nvidia’s market cap stood at $1.713 trillion (based on 2.71 million in outstanding shares).