Dan Niles Predicts 'So Much More Growth' For Nvidia As Jensen Huang-Led Tech Giant Surpasses Apple: 'If I Have To Pick One To Own For The Next Couple Of Years...'

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Dan Niles has made a bold prediction about the future of Nvidia Corp. NVDA that the company is poised for significant growth, potentially outshining even Apple Inc. AAPL.

What Happened: During CNBC’s “Last Call” on Thursday, Niles, a well-known tech investor and founder of Niles Investment Management, commented that Apple had been a “massive underperformer” in terms of revenue in comparison to Nvidia over any time period one picks.

“To compare the two, I don’t think it makes any sense, from that [revenue] angle. There’s so much more growth in front of Nvidia,” he said.

Niles highlighted that “Apple is in an industry which doesn’t grow, which is smartphones,” adding that the Tim Cook-led company is lagging behind in terms of innovation and needs to catch up with other smartphone companies who are utilizing AI.

“If I have to pick one to own for the next couple of years, that’s clearly Nvidia.”

See Also: Market Whales and Their Recent Bets on GME Options

Why It Matters: Niles’ comments come after Nvidia reached a $3 trillion valuation by market capitalization, becoming the third company to achieve this milestone.

Nvidia’s rise to the second most valuable company in the world has been a topic of great interest. The company’s market capitalization surpassed Apple’s, a milestone that was predicted by analyst Ming-Chi Kuo three months ago.

Despite some doubts, Nvidia’s market cap has continued to grow, fueled by strong AI growth. This growth has been contrasted with the innovation challenges faced by consumer electronics, as per Kuo.

Price Action: Nvidia shares rose by 5.16% on Wednesday, closing at a record high of $1,224.40. In after-hours trading, the stock saw an additional increase of 0.94% at the time of publication, according to Benzinga Pro. Meanwhile, Apple shares ended Wednesday's session up 0.78%. In the after-hours session, Apple shares were down by 0.17% at $195.53.

Read Next: Too Good To Be True: NYSE Cancels Trades On Berkshire Hathaway Stock Purchased During 99% Discount Glitch

Photos courtesy: Shutterstock and Flickr

This story was generated using Benzinga Neuro and edited by Pooja Rajkumari

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