2357 GMT - Nvidia is now back above US$3.1 trillion in market value after gaining 5.6% on Tuesday. It has now risen 38% from its April low, while Apple gained 23%. At this pace, Nvidia may soon overtake Apple as the second-largest company in the world, says Jessica Amir, market strategist at Moomoo Australia. Nvidia needs just another US$11 billion more in market capitalisation to reach the goal, she says. Then it could tap Microsoft on the shoulder to reclaim the No.1 spot, Amir adds. There's more upside for Nvidia as the U.S. is weighing a deal to allow the United Arab Emirates to import more than one million Nvidia chips, while major S&P 500 tech companies have reaffirmed they're also buying more, she adds. (james.glynn@wsj.com; @JamesGlynnWSJ)
(END) Dow Jones Newswires
May 13, 2025 19:57 ET (23:57 GMT)
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