This year has already seen a 9% increase, and NVIDIA is still the most bullish large-cap stock in 2024.
Since the end of 2022, NVIDIA's growth has surpassed that of the S&P 500 by a factor of 10.
Stock price hits another high, "Water Seller" strikes again.
On Monday, NVIDIA announced the launch of the GeForce RTX 40 Super series graphics cards at CES 2024, and the stock price soared to a new all-time high on the same day. Overnight, NVIDIA continued to rise by 1.7%, with a cumulative increase of over 9% since the beginning of this year, far outperforming the market.
Since hitting bottom in October 2022, NVIDIA's gains have reached 10 times that of the SPDR S&P 500.
Meanwhile, the other six members of the "Seven Sisters" in the technology sector have performed weakly since the beginning of the year, with an average return of -1%, dragging down the overall performance of the technology sector.
Currently, among the constituents of the SPDR S&P 500 index, which is dominated by large-cap stocks, NVIDIA's performance this year ranks fourth, making it the company with the largest increase in market value exceeding $50 billion.
There is no doubt that the AI boom has greatly boosted NVIDIA's stock price since last year. In the latest financial quarter, NVIDIA's revenue reached a new all-time high, doubling year-on-year, and net profit soared to 12 times that of the same period in 2022.
How impressive is this reflected in the stock price? Forbes gave an example: if you had invested $1,000 in NVIDIA 10 years ago, today that investment would be worth about $134,000, while Apple and the SPDR S&P 500 index fund would be worth about $10,000 and $3,100, respectively, under the same circumstances.
However, recently, with multiple positive news and the positive atmosphere driven by CES 2024, technology stocks have shown signs of recovery. The "Seven Sisters" have also recovered most of their losses since the beginning of this year.
