Investing.com - Pundit commentary continues to cascade on Nvidia (NASDAQ:NVDA) after it became the world's largest company by market capitalisation. "This achievement is driven by an unprecedented rally, as Artificial Intelligence has gone from being a media phenomenon to becoming a reality," says Ben Laidler, global markets strategist at eToro.
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"Nvidia is now the largest company by market capitalisation in the index S&P 500 and in the world. Sales rose 260% last quarter compared to a year earlier, and its profits have increased tenfold since the rally began in earnest at the end of 2022. The company's advantage as a pioneer in GPU chips has provided strong drivers for both volume and pricing power," notes Laidler.
"The S&P 500 has only seen 12 companies hold the title of largest market capitalisation in the last century. Companies like General Electric (NYSE:GE), General Motors (NYSE:GM), Cisco (NASDAQ:CSCO), Philip Morris (NYSE:PM), DuPont (NYSE:DD) and AT&T remind us that success does not last forever. Many of the best companies fade over time as competition catches up or as they are affected by the next big technology," he says.
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Source: InvestingPro
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