VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, January 7, 2026

Stock Comparison

NVIDIA Corporation vs Spotify Technology S.A.

Compare moat strength, market structure, and segment coverage to understand how each company defends its edge.

NVIDIA Corporation

NVDA · Nasdaq Stock Market

Market cap (USD)$4.6T
Gross margin (TTM)70.1%
Operating margin (TTM)58.8%
Net margin (TTM)53%
SectorTechnology
IndustrySemiconductors
CountryUS
Data as of2025-12-26
Moat score
97/ 100

Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.

Full stock profile

Dive deeper into NVIDIA Corporation's moat claims, evidence, and risks.

View NVDA analysis

Spotify Technology S.A.

SPOT · New York Stock Exchange

Market cap (USD)$121.5B
Gross margin (TTM)31.8%
Operating margin (TTM)11.7%
Net margin (TTM)8.3%
SectorCommunication Services
IndustryInternet Content & Information
CountryLU
Data as of2026-01-06
Moat score
65/ 100

Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.

Full stock profile

Dive deeper into Spotify Technology S.A.'s moat claims, evidence, and risks.

View SPOT analysis

Comparison highlights

  • Moat score gap: NVIDIA Corporation leads (97 / 100 vs 65 / 100 for Spotify Technology S.A.).
  • Segment focus: NVIDIA Corporation has 5 segments (88.3% in Data Center); Spotify Technology S.A. has 2 segments (88.2% in Premium (subscription)).
  • Primary market structure: Quasi-Monopoly vs Oligopoly. Pricing power: Strong vs Moderate.
  • Moat breadth: NVIDIA Corporation has 7 moat types across 3 domains; Spotify Technology S.A. has 6 across 4.

Primary market context

NVIDIA Corporation

Data Center

Market

Data center accelerated computing (AI GPUs, systems, and networking)

Geography

Global

Customer

Hyperscale cloud providers, enterprises, public sector (often via OEMs/ODMs and integrators)

Role

Fabless designer and platform supplier (chips, systems, software)

Revenue share

88.3%

Spotify Technology S.A.

Premium (subscription)

Market

Paid music and audio streaming subscriptions

Geography

Global

Customer

Consumers (end-users) and distribution partners (e.g., telcos)

Role

Streaming platform operator

Revenue share

88.2%

Side-by-side metrics

NVIDIA Corporation
Spotify Technology S.A.
Ticker / Exchange
NVDA - Nasdaq Stock Market
SPOT - New York Stock Exchange
Market cap (USD)
$4.6T
$121.5B
Gross margin (TTM)
70.1%
31.8%
Operating margin (TTM)
58.8%
11.7%
Net margin (TTM)
53%
8.3%
Sector
Technology
Communication Services
Industry
Semiconductors
Internet Content & Information
HQ country
US
LU
Primary segment
Data Center
Premium (subscription)
Market structure
Quasi-Monopoly
Oligopoly
Market share
78%-85% (estimated)
31%-33% (reported)
HHI estimate
n/a
n/a
Pricing power
Strong
Moderate
Moat score
97 / 100
65 / 100
Moat domains
Demand, Network, Supply
Network, Demand, Legal, Supply
Last update
2025-12-26
2026-01-06

Moat coverage

Shared moat types

No overlap yet.

NVIDIA Corporation strengths

Data Workflow LockinEcosystem ComplementsCapacity MoatOperational ExcellenceDesign In QualificationSuite BundlingResidual / non-core revenue

Spotify Technology S.A. strengths

Data Network EffectsInteroperability HubTwo Sided NetworkBrand TrustContent Rights CurrencyScale Economies Unit Cost

Segment mix

NVIDIA Corporation segments

Full profile >

Data Center

Quasi-Monopoly

88.3%

Gaming

Duopoly

8.7%

Professional Visualization

Oligopoly

1.4%

Automotive

Competitive

1.3%

OEM & Other

Competitive

0.3%

Spotify Technology S.A. segments

Full profile >

Premium (subscription)

Oligopoly

88.2%

Ad-Supported (advertising)

Competitive

11.8%

Want the full wide moat stocks list?

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Proven models entering the expansion stage with unit economics that work.

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Curation & Accuracy

This directory blends AI‑assisted discovery with human curation. Entries are reviewed, edited, and organized with the goal of expanding coverage and sharpening quality over time. Your feedback helps steer improvements (because no single human can capture everything all at once).

Details change. Pricing, features, and availability may be incomplete or out of date. Treat listings as a starting point and verify on the provider’s site before making decisions. If you spot an error or a gap, send a quick note and I’ll adjust.