Nvidia vs. Apple: The Market Battle
Nvidia (NASDAQ: NVDA) currently holds a market value of approximately $4.7 trillion, outpacing Apple (NASDAQ: AAPL) by around $190 billion, as of late July 2023. Apple, with a market cap of about $4.5 trillion, recently saw a nearly 5% stock increase due to rumors of an expanded iPhone lineup. Nvidia’s stock price faced challenges amid a broader sell-off in the semiconductor sector, despite reporting a remarkable 85% year-over-year revenue growth to $81.6 billion in its fiscal first quarter of 2027.
Apple is scheduled to release its fiscal third-quarter earnings on July 30, 2023, with expected revenue growth guidance of 14% to 17%, following a strong fiscal second-quarter performance of $111.2 billion. The announcement is considered a potential catalyst for narrowing the valuation gap between the two tech giants. While Apple trades at approximately 37 times earnings, Nvidia’s multiple stands at about 30, suggesting Nvidia may be the cheaper, faster-growing option despite the cyclical nature of the chip industry.
5 Stocks Our Experts Predict Could Double In the Next Year
By submitting your email, you'll also get a free pivot & flow membership. A free daily market overview. You can unsubscribe at any time.
