Nvidia is approaching a historic market capitalization of $6 trillion, currently valued between $5.7 trillion and $5.78 trillion. The stock has risen nearly 25% since its late July low, reaching a record closing price of $238.90 on October 5.
The company recently expanded its share repurchase program by $150 billion, bringing the total authorization to $235 billion. Additionally, investor sentiment was bolstered following a meeting between CEO Jensen Huang and US President Donald Trump on September 29.
Financial performance remains strong, with Q2 revenue reaching $96.2 billion. The company projects Q3 revenue between $105.8 billion and $110.1 billion. Morgan Stanley maintains an overweight rating on the stock with a price target of $300.
Market data indicates a 50% probability of Nvidia reaching the $6 trillion valuation by the end of October, with that likelihood increasing to 67% by December 18. Currently, the company represents approximately 13% of the Nasdaq and 8% of the S&P 500.
