Tesla vaulted back above a $1 trillion market cap on Friday as part of massive run fueled by Donald Trump's election victory. But it's not the only giant to recently rejoin that exclusive club. Nvidia chipmaker Taiwan Semiconductor is back above that level along with Warren Buffett's Berkshire Hathaway.
Berkshire moved back above the $1 trillion mark on Monday while Tesla stock continued to surge Monday. Taiwan Semi just held the key level.
Tesla Stock
Tesla stock surged 9% to 350 on Monday, continuing a massive run. The EV giant now have a $1.12 trillion market cap, after reclaiming the $1 trillion level on Friday.
Shares spiked 29% last week to 321.22, the biggest weekly gain since the week ended Jan. 27, 2023.
Musk was a huge Trump supporter, and could join the new administration in an official or advisory capacity.
It's not clear how much Trump could or will do regarding EVs, or even if those moves would be a net benefit to Tesla. But TSLA stock shows that investors believe that Trump will be a boon to Tesla.
Wedbush analyst Dan Ives, a longtime Tesla bull, raised his TSLA price to 400 on Monday.
Taiwan Semiconductor Stock
Taiwan Semiconductor is back above the $1 trillion level too, though its time below that key level was very brief.
Shares first closed above the $1 trillion level on Oct. 17 following strong earnings, hitting a record 212.60 intraday. Shares drifted down to the 21-day line, closing back below $1 trillion a few times. But as of Nov. 5 it's been back above that line.
TSM stock rallied 4.3% last week. But shares fell 3.55% to 194.05 on Monday, just above the 21-day line.
The market cap is $1.006 trillion.
On Friday, Taiwan Semiconductor reported October revenue jumped 29% vs. a year earlier, led by high-priced artificial intelligence chips. Taiwan Semi makes chips for Nvidia, Broadcom, Apple and many others.
Broadcom stock is among the stocks closest to joining the $1 trillion club, though at $835.6 billion has a ways to go.
Unlike Tesla and most stocks, Taiwan Semiconductor fell slightly on Wednesday. There are questions over the fate of Taiwan. Will mainland China seek to forcibly seize the island, and would President Trump defend Taiwan?
The Biden administration has ordered TSMC to stop shipping advanced chips with AI uses to Chinese customers, Reuters reported Monday.
Warren Buffett Stock Berkshire Hathaway
Berkshire Hathaway stock 0.85% to 467.36 on Monday, just reclaiming a $1 trillion market cap with $1.007 trillion.
Warren Buffett's conglomerate rose 2.5% last week. On Nov. 4, shares undercut the bottom of its flat base. after reporting a 6% decline in Q3 operating earnings. The buy point is 484.82, but investors could use the Nov. 6 high of 469.26 as an early entry.
Berkshire stock first closed above $1 trillion for the first time on Aug. 29, continuing to rise to a record 484.82 on Nov. 4. Since then shares have consolidated, sometimes setting above the $1 trillion mark but usually just below that level.
Nvidia Stock Is Most Valuable Company
Nvidia stock fell 1.6% to 145.26 on Monday. Shares surged 9% last week, hitting a record high and reclaiming the title of the most valuable company. Its market cap is now $3.56 billion vs. Apple stock at $3.39 billion.
Microsoft follows with a $3.11 billion valuation. Google-parent Alphabet and Amazon.com are virtually tied, at $2.21 billion and $2.18 billion, respectively.
Meta Platforms has a $1.47 billion market cap.
Nvidia and Amazon stock are in buy range, while Google and Meta stock are just below buy points.
Nvidia and Meta stock are on IBD Leaderboard, with Tesla stock on the Leaderboard watchlist. Nvidia stock is on SwingTrader and the IBD 50. Microsoft stock is on the IBD Long-Term Leaders list. Google was Friday's IBD Stock Of The Day.
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