NVIDIA may surpass Apple in market value growth in a day

NVIDIA has released a report with financial results in the first quarter that exceeded analysts' expectations. 

The chip maker reported earnings per share of $1.09, earnings of $7.19B. Analysts on average assumed that earnings per share would be $0.92, and total revenue would be $6.52B. In addition, according to forecasts, the company's revenue in the second quarter, which ends in July, will be about $11 billion, which is 50% higher than analysts' forecasts.

In its report, NVIDIA also raised the demand forecast for its chips used in artificial intelligence (AI) applications, after which the company's shares jumped by 29%. Analysts note that if the indicator persists after the opening of trading, the company's market capitalization will grow by $219 billion per day and reach a historical maximum of $974 billion.

The success of NVIDIA shares even surpassed the one-day growth of Apple Inc. in November last year by $191 billion and growth of Amazon.com Inc in February 2022. However, unlike these companies, NVIDIA has not yet joined Apple and Amazon in the list of companies with a capitalization of $ 1 trillion.

In general, since the beginning of the year, the value of NVIDIA shares has risen by 108%. The current value of the company's securities is $306 per share.