Nvidia (NASDAQ: NVDA) is on track to overtake Apple (NASDAQ: AAPL) as the world’s most valuable publicly traded company, following a surge in its stock price. The company’s shares closed at US$149.43 (A$241.02) on Monday (Tuesday AEDT), marking a 3.43% increase or $4.96 gain. This growth comes amid a broader rally in semiconductor stocks, fueled by strong performance from Foxconn, a key player in the electronics sector.
Foxconn, listed as Hon Hai Technology Group (TWSE: 2317), reported record fourth-quarter and annual revenues for 2024 and signaled strong growth for the first quarter of 2025. Foxconn’s positive results have boosted investor confidence across the tech sector, lifting shares of semiconductor companies worldwide. Nvidia’s stock price was among the biggest gainers, pushing its market capitalization to $3.66 trillion, just shy of Apple’s $3.7 trillion.
Nvidia’s CEO, Jensen Huang, is set to deliver a keynote speech at the 2025 Consumer Electronics Show (CES) in Las Vegas, where he is expected to showcase Nvidia’s innovations and discuss the company’s role in driving technological advancements. Huang’s address, scheduled for Monday evening (9:20 PM ET, 1:20 PM AEDT Tuesday), will focus on the intersection of technology, business, and societal impact.
The broader semiconductor sector also saw gains, with Nvidia’s competitor, Advanced Micro Devices Inc (NASDAQ: AMD), rising by 3.33% to close at $129.55. Nvidia, which saw its market value increase by over $2 trillion in 2024, has outpaced all other companies in terms of growth, with its valuation jumping to $3.28 trillion by the end of the year. If Nvidia continues on its current trajectory, it may soon surpass Apple to become the leading tech giant by market capitalization.
Picture Attribution: Amir Shtanger: Wikipedia CCA SA 3.0
