NVIDIA’s stock plummeted over 8% on Thursday, sending shockwaves through the U.S. tech sector. While this triggered a widespread sell-off, Apple held its ground, maintaining its $3 trillion market capitalization and solidifying its position as the only company in the exclusive $3 trillion club.
Apple closed at $237.30 on the New York Stock Exchange, down 1.27% for the day. Despite this slight dip, the company maintained a market value of $3.565 trillion.
In stark contrast, NVIDIA, the second-largest tech company by market cap, suffered a steep 8.48% decline, dragging its market capitalization down to $2.942 trillion, falling below the $3 trillion threshold.
The sell-off extended across the tech sector, with other major players also seeing sharp declines.
Microsoft dropped 1.80%, Amazon fell 2.62%, Alphabet, Google’s parent company, declined 2.57%, Meta slid 2.29%, Broadcom plunged 7.11%, and Tesla lost 3.04%.
Amid the broader tech downturn, Apple’s relatively modest 1.27% decline highlighted its resilience and reinforced its dominance in volatile market conditions.