Nvidia Is Now Worth More Than Meta
Nvidia is now worth more than Meta: To become the seventh largest company in the United States, Nvidia has passed Meta (formerly Facebook) (8th worldwide). For one thing, Meta’s share price has been decreasing since its most recent earnings call.
Meta’s share price dropped by roughly 30% in the past week. After a week, the corporation’s market value dropped by more than $260 billion. The current market worth of the company is $663.28 billion, down from a peak of $1 trillion in September of last year.
Meta and Facebook collapse
Meta’s stock value dropped as Facebook saw its first drop in user base since it launched. And by threatening to shut down Facebook and Instagram across Europe, Meta only helped seal its doom. The company later stated emphatically that leaving Europe was not in the cards.
On the other side, Nvidia’s market cap is $665.48 billion, which places it close to Meta. Despite having a challenging week, Nvidia has managed to get all of this done due to the FTC prohibiting the company’s $40 billion acquisition of ARM. Today, Nvidia’s market valuation is around $720 billion, placing it sixth overall, just below Berkshire Hathaway.
Given the continuing shortage of semiconductors, you might wonder how this is possible. Surprisingly, the corporation turned a healthy profit in the fourth quarter of 2021. The growing popularity of working from home may be to blame for this surge in PC sales.