United States chipmaker Nvidia has outperformed Apple stock price by over 25-fold since the beginning of 2024, as its much-anticipated 10-to-1 stock split is about to start trading.
Nvidia shares rose over 150% since the beginning of 2024, while Apple shares only rose 6% year-to-date (YTD), according to Nasdaq data.
![](https://s3.cointelegraph.com/uploads/2024-06/5184aa56-a64a-4450-862f-32f18734dc45.png)
Nvidia has also been outperforming Apple shares in the short term. On the monthly chart, Nvidia’s price rose 34%, while Apple stock only rose slightly over 7%.
Nvidia is the world’s largest chip manufacturer. The rise of its valuation is driven by the increasing demand for semiconductor chips, mainly due to artificial intelligence (AI) algorithms.
Related: Robinhood to buy Bitstamp crypto exchange to enable institutional trading in US
Nvidia is down 0.25% in pre-market trading ahead of the 10-to-1 stock split
Nvidia shares took a plunge in pre-market trading on Monday ahead of the stock split, which will start trading on June 10.
Nvidia was trading at $120.89 as of 11:40 am UTC, down 0.25% in pre-market trading. However, Nvidia shares rose over 10% during the past five days, according to Yahoo Finance data.
![](https://s3.cointelegraph.com/uploads/2024-06/a5690b3a-b66c-4626-a607-a4a49951296d.png)
The chip manufacturer has become the fifth “Magnificent Seven” stock to split since 2022. Other firms that performed stock splits include Apple, Tesla, Amazon and Alphabet.
While the stock split could bring increased retail interest, it could also introduce additional volatility, according to Adam Coons, the chief investment officer of Winthrop Capital, who told Yahoo Finance:
“They can be a little bit more quick and emotional with their buying and selling decisions, so that can lead to heightened volatility as you start to dilute the institutional buyers,”
Related: Iggy Azalea’s MOTHER memecoin surges 30% on mobile company announcement
Will Nvidia flip Apple to become the world’s second-largest company?
Nvidia reached a $3 trillion market capitalization last week, driven by surging demand for semiconductor chips.
On June 5, Nvidia briefly surpassed Apple as the world’s second-most valuable firm, before dipping back into third place. The $3.01 trillion valuation represented a new all-time high for Nvidia, which is currently back to a $2.97 trillion valuation.
![](https://s3.cointelegraph.com/uploads/2024-06/e8f5d996-618b-41ab-ae8f-7a7aff33cc9a.png)
Nvidia’s graphical processing unit chips are used as the go-to hardware solution for developing AI applications.
Leading AI development firms like OpenAI, Google and Microsoft all use Nvidia chips for AI development, driving demand for the chip manufacturing giant.
Magazine: Caitlyn Jenner meme coin ‘mastermind’s’ celebrity price list leaked