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Nvidia Is Up 186% From A Year Ago, Yet These 7 Stocks Have More Than Doubled Their Returns Over The AI Chipmaker
NVIDIA Corp. (NASDAQ:NVDA) has been the standout tech stock of the past year, leading the Nasdaq 100 index in the performance ranking.
The chipmaker giant has seen an astounding 186% surge since the end of May 2023, fueled by skyrocketing demand for chips in artificial intelligence development.
Veteran Wall Street investor Ed Yardeni recently coined “Magnificent One” to differentiate Nvidia’s extraordinary performance from the Magnificent Seven.
To illustrate the magnitude of Nvidia's market value increase, just a year ago, the company was valued at $1 trillion. Today, it boasts a staggering $2.8 trillion valuation, making it the third-largest company in the U.S.
Nvidia’s current value is equal to Tesla Inc. (NASDAQ:TSLA), Ely Lilly & Co. (NYSE:LLY), Broadcom Inc. (NASDAQ:AVGO), Walmart Inc. (NYSE:WMT) and Mastercard Inc. (NYSE:MA) combined.
Read Also: When Will Nvidia Be The Most Valuable Company In The World?
However, Nvidia's spectacular ascent is eclipsed by these seven U.S. stocks, which have more than doubled the chipmaker’s impressive returns over the last year.
7. Vera Therapeutics, Inc. ...