Nvidia (NVDA) Officially Joins Dow Jones, Dethroning Intel
AI chipmaker Nvidia (NVDA) has officially joined the Dow Jones Industrial Average (^DJI). On Friday, the chipmaker hit $147.71 per share, a 9% gain in the last business week. The company joining the Dow is a historic step for the company and AI industry, coming shortly after Nvidia joined the Mag-7.
This week, Nvidia overtook Apple (AAPL) as the world’s most valuable company. Indeed, its $3.6 trillion market cap again moved ahead of Apple’s $3.4 trillion. Earlier in the week, Nvidia successfully booted Intel from the Dow Jones after a 25-year run. Today, the chip maker replacing Intel was made official.
“A lot of us on Wall Street talk about the S&P 500 (^GSPC) and the Nasdaq (^IXIC). But most of America knows the Dow,” said Ritholtz Wealth Management chief market strategist Callie Cox in an interview with Yahoo Finance Friday, “So a lot of America is going to be introduced or at least have to get a little bit more familiar with Nvidia, and all of what Nvidia means in this AI story.”
Nvidia Continues To Climb
Nvidia has thrived throughout 2024 surging beyond $140 and eyeing continued gains through the end of the year. The company is currently looking to be the first to reach a $4 trillion market cap. Moreover, analysts have consistently revised their predictions for the company’s stock this year, projecting higher and higher gains.
“The index changes were initiated to ensure a more representative exposure to the semiconductors industry,” the S&P wrote in a press release. The questions will now target Intel’s ability to weather the storm. Down 54% this year, the CPU corporation has very little reason to be optimistic. Still, some experts are not ruling out a 20% boost and return to form for the stock. In recent years, it has shown a propensity to be volatile and eventually finds its way back to respectability.
Also Read: Nvidia (NVDA) and Amazon (AMZN) Hit ATHs, Pumping Nasdaq
However, we currently sit in the jump-start of the AI age, and chipmakers/AI firms like Nvidia are only going to gain further into 2025. In a bullish stock market following the US election, it is ever likely that a $4T valuation is coming soon for Nvidia, and its time in the Dow index will last an extended period.
Read More
Should You Buy the Dip in Nvidia Stock? (NVDA)
Nvidia (NVDA) Officially Joins Dow Jones, Dethroning Intel
AI chipmaker Nvidia (NVDA) has officially joined the Dow Jones Industrial Average (^DJI). On Friday, the chipmaker hit $147.71 per share, a 9% gain in the last business week. The company joining the Dow is a historic step for the company and AI industry, coming shortly after Nvidia joined the Mag-7.
This week, Nvidia overtook Apple (AAPL) as the world’s most valuable company. Indeed, its $3.6 trillion market cap again moved ahead of Apple’s $3.4 trillion. Earlier in the week, Nvidia successfully booted Intel from the Dow Jones after a 25-year run. Today, the chip maker replacing Intel was made official.
“A lot of us on Wall Street talk about the S&P 500 (^GSPC) and the Nasdaq (^IXIC). But most of America knows the Dow,” said Ritholtz Wealth Management chief market strategist Callie Cox in an interview with Yahoo Finance Friday, “So a lot of America is going to be introduced or at least have to get a little bit more familiar with Nvidia, and all of what Nvidia means in this AI story.”
Nvidia Continues To Climb
Nvidia has thrived throughout 2024 surging beyond $140 and eyeing continued gains through the end of the year. The company is currently looking to be the first to reach a $4 trillion market cap. Moreover, analysts have consistently revised their predictions for the company’s stock this year, projecting higher and higher gains.
“The index changes were initiated to ensure a more representative exposure to the semiconductors industry,” the S&P wrote in a press release. The questions will now target Intel’s ability to weather the storm. Down 54% this year, the CPU corporation has very little reason to be optimistic. Still, some experts are not ruling out a 20% boost and return to form for the stock. In recent years, it has shown a propensity to be volatile and eventually finds its way back to respectability.
Also Read: Nvidia (NVDA) and Amazon (AMZN) Hit ATHs, Pumping Nasdaq
However, we currently sit in the jump-start of the AI age, and chipmakers/AI firms like Nvidia are only going to gain further into 2025. In a bullish stock market following the US election, it is ever likely that a $4T valuation is coming soon for Nvidia, and its time in the Dow index will last an extended period.
Read More