Nvidia Climbs From $300B To $1 Trillion Since MAMAA Dethroned FAANG: Jim Cramer's Cue For A New Tag?

Comments
Loading...
Zinger Key Points
  • Nvidia's position in the U.S. stock market is firming up, with the stock ahead of competitors and on strong footing for the future.
  • The stock still hasn't made it, though, to Jim Cramer's popular tech tags yet.

Nvidia Corp.’s NVDA AI-driven upswing hasn’t missed any Street watcher’s eye. The stock is up over 200% in the past year, 240%+ so far in 2023 and 65%+ over the past 6 months.

The company now commands the fifth-largest market cap on the U.S. exchanges:

SymbolCompanyMarket Cap
AAPLApple Inc.$2.899T
MSFTMicrosoft Corporation$2.747T
GOOGAlphabet Inc.$1.668T
AMZNAmazon.com, Inc.$1.484T
NVDANVIDIA Corporation$1.194T
METAMeta Platforms, Inc.$844.894B
BRK.ABerkshire Hathaway Inc.$764.562B
TSLATesla, Inc.$682.355B
LLYEli Lilly and Company$567.41B
UNHUnitedHealth Group Inc.$500.579B
Data source: TradingView

It is true Nvidia’s stock did pick up steam through 2021, but it only witnessed a steep upward stride after October 2022. It is currently among the largest technology stocks on Wall Street and over the past two years, Nvidia has made its place in the U.S. stock market and many tech portfolios.

But, Nvidia hasn’t been able to find a place in Jim Cramer’s tech stock tags FAANG or MAMAA.

Related: Nvidia Dominates AI Chip Market, But Institutional Holders Show Unsettling Trend — Is The Spark Fading?

The term FAANG was coined by Jim Cramer in 2013. FAANG represented the most significant technology stocks worldwide at that time, consisting of Meta Platforms Inc. FB, formerly called Facebook, Amazon.com, Inc. AMZNApple Inc. AAPLNetflix Inc. NFLX and Google, now called Alphabet Inc. GOOGLGOOG.

In October 2021, Cramer replaced his FAANG acronym with MAMAA, representing Meta, Alphabet, Microsoft Corp MSFT, Amazon and Apple. The reason cited for Netflix not being included has been its market capitalization not keeping up with the others. We can safely assume the same may have applied to Nvidia.

In the meantime, its market cap grew more than three-fold now and the future looks bright for the company. Nvidia is better positioned (and equipped) vis-a-vis competitors to profit and scale up with the AI adoption and growth.

Charlie Bilello, chief market strategist of Creative Planning Investor, came up with The Enormous Eight, which adds Microsoft, Nvidia and Tesla Inc TSLA to the FAANG equation.

The question remains: While the current MAMAA tag includes the top six stocks without Nvidia, will the CNBC Mad Money host Jim Cramer come up with a new tag soon to include it?

Read Next: AMD CEO Lisa Su Expects $1B In MI300 Sales: Microsoft, Meta, Oracle, Google, Amazon Placing Orders?

Market News and Data brought to you by Benzinga APIs

Posted In:
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!