The more favored a stock is, the likelier it is to have a high market cap. However, most newer companies have lower market caps because they haven't even started growing. So, it's a combination of investor sentiment and a proven track record.

Nvidia has had a stellar run, recently hitting a record high and the stock's technical setup signals further upside by Christmas 2024.

Though Nvidia Corp.’s stock is set to snap a streak of five weekly gains on Friday, it was still a pretty good week for the company in several regards. One positive takeaway is that the big cloud players reported results in recent days and indicated plans to continue spending on artificial-intelligence hardware.