- Nvidia's (NVDA +2.8%) market valuation pushes past Intel's (NASDAQ:INTC) for the first time, topping $248B compared to Intel's roughly $247B.
- Optimism about GPU demand ahead of the fall game console refresh has helped NVDA shares gain 68% YTD.
- The company is expected to reveal its 7nm Ampere GPU architecture in the coming months.
- NVDA is now the third-largest chipmaker by market cap, behind TSMC and Samsung. Intel still tops chip names in terms of revenue.
- The Philadelphia Semiconductor Index is up nearly 11% YTD compared to the tech sector's (NYSEARCA:XLK) 17% gain. Semi stocks took a hit as the coronavirus disrupted China's supply chain, but pared those losses as the stay at home orders drove gaming and PC demand.
- Previously: Nvidia gets Street-high price target on console catalyst (Jul. 07 2020)