NVIDIA has risen to the top of the S&P 500 stock screen, claiming the #1 spot, and has also achieved a 5th place ranking on eToro with UAE’s investor support, highlighting its growing influence and market dominance.
Ben Laidler, Global Markets Strategist at eToro, said: “NVIDIA is now the largest company by market
capitalization in the S&P 500 index and the world. This achievement is propelled by an unprecedented fundamental-driven rally as AI has transitioned from hype to reality.
NVIDIA’s sales surged 260% last quarter compared to a year ago, and its profits have risen tenfold since the rally began in earnest at the end of 2022. The company’s first-mover advantage in GPU chips has provided strong drivers for both volume and pricing power.
UAE investors have played their part, with NVIDIA currently being their fifth most-owned stock on the eToro platform. The number of holders has surged 48% in the past three months, the highest growth among any large stock.
The S&P 500 has only seen 12 companies hold the title of the largest market cap in the past century.
Companies like General Electric, General Motors, Cisco, Philip Morris, DuPont, and AT&T serve as
cautionary reminders that success is not eternal.
Many of the best firms fade over time as competition catches up or they are disrupted by the next big technology.
