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Today's Stock Alert: Nvidia Overtook Apple

Thursday’s stock market will open with Nvidia (NVDA) lapping Apple (AAPL) by market capitalization. The graphics card supplier deserves it. Quarter after quarter, Nvidia posted profits and revenue that surpassed analyst expectations. In contrast, Apple posted slumping iPhone sales. The once-hot consumer brand needed a blockbuster $110 billion stock buyback to prevent shares from falling.

Markets could not have timed Nvidia’s $3 trillion market capitalization any better. Shareholders will hold 10 times more shares through a 10-for-1 stock split after markets close today.


In the past weekend, Tesla said that it would spend billions on Nvidia GPU server chips for xAI. On Wednesday, markets ignored the risks that Tesla would divert GPU purchases from Tesla to X (Twitter) and xAI. Tesla shareholders may protest: the use of capital funds for CEO Elon Musk’s private firms is a disservice to the EV company.

Your Takeaway

After NVDA stock splits, it will likely follow the same pattern as Tesla stock. At the time, Tesla shares rose to euphoric levels during the 2020-2021 pandemic. Today, TSLA stock lost half its value from its peak. Corporations are spending precious funds on AI solutions without considering the ROI. When their revenue falls, they will cut back on spending. If AI investments do not pay off, AI-related spending will slow or even stop.