Other promising stocks could emulate the semiconductor giant’s rally to a $1 trillion market cap
The extraordinary rise of Nvidia (NASDAQ:NVDA) was driven by the emergence of generative AI. This technology hinges on the use of powerful computer chips in which the stock is a market leader.
Last year, the S&P 500 climbed an impressive 24%. However, the outlook for 2024 is a little calmer. Goldman Sachs forecasts a rise to 4700 by year’s end, a price gain of 5%.
This makes the challenge of surpassing the one trillion dollar market capitalization mark more difficult for innovative stocks. However, these three contenders shine as key candidates to become new additions to the trillion dollar club.
Eli Lilly (LLY)
Source: shutterstock.com/Michael Vi
Eli Lilly’s (NYSE:LLY) growth prompted Morgan Stanley analyst Terence Flynn to question the stock’s potential to reach $1 trillion.
“Could LLY be the…
