After Hitting $4 Trillion, It Took Nvidia Just 1 Month to Gain Another $480 billion in Market Cap. Is $5 Trillion Inevitable?
Nvidia (NASDAQ: NVDA) has continued to soar higher after becoming the first company to surpass $4 trillion in market capitalization on July 9. On Aug. 7, Nvidia hit a new all-time intraday high and reached $4.48 trillion in market cap -- just shy of the $4.5 trillion mark.
Nvidia's meteoric rise isn't just a stock story; it's a market story. Nvidia is so large that it can single-handedly move the Nasdaq Composite or S 500 with a big gain. Gaining close to $500 billion in market value is like creating a company the size of Netflix out of thin air -- which is saying something, considering Netflix is the 16th-largest S 500 component by market cap. As Nvidia and its megacap peers go, so do broader market gains.
Here's why I fully expect the growth stock to surpass $5 trillion in market value and why Nvidia has a clearly defined runway for future success.
Source Fool.com
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