2024-06-25 04:12:00 ET
Earlier this month, Nvidia (NASDAQ: NVDA) briefly surpassed Microsoft to become the most valuable company in the world. It's one good day of trading away from rejoining Microsoft and Apple as the only three companies to obtain a market cap of $3 trillion or more.
With Nvidia briefly becoming the largest company on the planet, the question is: Has the stock topped out? Let's look at why it may still have plenty of room to climb.
Becoming the world's largest company or reaching a market-cap milestone doesn't mean the gains on a stock are necessarily capped. For example, it was pretty astounding when Apple became the world's first trillion-dollar company back in August 2018. At the time, it certainly seemed that the gains would slow from there. After all, it took the company 42 years to reach a trillion-dollar market cap.
For further details see:
Nvidia Was Briefly the World's Most Valuable Company. Is It Too Late to Buy the Stock?