Nvidia Stock Update: Latest Performance Trends on Tuesday

Money | July 16, 2024, 12:43 p.m.

Nvidia Corp (NASDAQ:NVDA) continues to soar in 2024 amidst the AI boom, with a 167% year-to-date surge. Tech investor James Anderson predicts a market cap of $50 trillion for Nvidia in the next decade. However, DNB Asset Management has recently reduced its holdings in Nvidia while increasing positions in Apple Inc (NASDAQ:AAPL) and Tesla Inc (NASDAQ:TSLA). DNB also doubled its stake in Intel Corp (NASDAQ:INTC). This adjustment coincides with the French competition authority investigating Nvidia for anti-competitive practices. Despite leading in AI, skepticism from experts like Aswath Damodoran persists regarding Nvidia's valuation and profitability. Investors can access Nvidia through various ETFs. Currently, NVDA shares are trading slightly higher at $128.46 premarket. Stay informed with Benzinga Pro for comprehensive stock market insights.