Nvidia (NVDA) Stock Makes Up 8% of S&P 500 as Market Cap Reaches $5.4 Trillion
TLDR
- Nvidia now accounts for about 8% of the S&P 500’s market cap, near an all-time high
- The company reported Q2 revenue of $96.2 billion, up 106% year over year, beating estimates
- Nvidia sees 70% revenue growth for fiscal year 2028, above the 45% analysts expected
- Institutional investors own 65.27% of NVDA stock; insiders have sold roughly $299 million worth in 90 days
- Analysts give NVDA a “Moderate Buy” consensus with an average price target of $324.23
Nvidia (NVDA) stock opened at $220.60 on Tuesday and is up over 3% on the day, as the company continues to rewrite the record books in terms of market influence.
At a market cap of $5.4 trillion, Nvidia now makes up roughly 8% of the S&P 500, near the highest proportion ever recorded, according to data from Augur Infinity. That puts its value above five of the index’s 11 sectors combined, including energy, utilities, real estate, and materials.
“Nvidia is making history,” strategists at The Kobeissi Letter said.
The company reported fiscal Q2 earnings on August 26. Adjusted EPS came in at $2.22, beating the $2.09 consensus. Revenue hit $96.22 billion, topping the $92.27 billion analysts had pencilled in.
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