Nvidia Stock Is Now 7th-Largest in U.S. After Passing Warren Buffett’s Berkshire Hathaway
Nvidia shares have been on a tear this year.
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Nvidia investors have every reason to celebrate.
The leading maker of computer graphics processing units (GPUs) begins Wednesday as the seventh-largest U.S. company by market capitalization, after overtaking Warren Buffett’s Berkshire Hathaway for the first time as trading came to a close Tuesday.
Nvidia (ticker: NVDA) stock rose 2.2% Tuesday and was poised for more gains Wednesday, up 1.4% in the U.S. premarket. Shares in the company soared 101% in 2021, some 410% since Covid-19 pandemic lows in March 2020, and more than 1,400% from five years ago. The S&P 500 index has risen a comparable 25% in 2021.
With a market capitalization of some $660 billion, Nvidia ranks behind Microsoft (MSFT), Apple (AAPL), Google parent Alphabet (GOOGL), Amazon (AMZN), Tesla (TSLA), and Facebook parent Meta (FB) in the list of most valuable U.S. companies. Berkshire Hathaway (BRK.A and BRK.B) maintains a lead of around $150 billion in market capitalization over JPMorgan Chase (JPM), the holder of the number-nine spot.
While Nvidia has overtaken Berkshire Hathaway, the conglomerate led by 91-year old chair and CEO Warren Buffett—one of the world’s most famous investors—is still chugging along well. Shares in Berkshire Hathaway, which will report third-quarter financial results Saturday, have climbed 26% in 2021 and 102% in the last five years.
Write to Jack Denton at [email protected]
