While NVIDIA’s stock continues to surge, Apple’s stock has fallen for six consecutive trading days, rapidly narrowing the market capitalization gap between them.
As of March 6 (local time), Apple, the second-largest U.S. company by market capitalization, is valued at $2.612 trillion. NVIDIA, the third-largest company, is valued at $2.217 trillion. Their market capitalization difference is now less than $400 billion.
NVIDIA’s stock is rising daily, buoyed by Wall Street’s artificial intelligence (AI) rally, while Apple’s stock continues to fall due to sluggish sales in China. Their market capitalization positions are expected to soon be reversed.
On this day, NVIDIA’s stock price on the New York Stock Exchange surged 3.18% from the previous trading day to a record $887.00, an all-time high. As a result, the market capitalization also reached $2.217 trillion, exceeding $2.2 trillion.
NVIDIA’s surge is due to the Semiconductor Industry Association’s (SIA) forecasting of double-digit growth in global semiconductor sales this year.
The SIA announced that global semiconductor sales in January soared 15.2% year-on-year to $47.6 billion. This is the largest monthly increase since May 2022.
The SIA predicts that global semiconductor sales will grow by double digits compared to last year, signaling a strong start to the year.
The SIA specifically highlighted that AI-related semiconductor companies NVIDIA and Taiwan’s TSMC are leading the increase in sales. As a result, NVIDIA and TSMC’s stock price surged.
In contrast, Apple’s stock price fell 0.59% from the previous trading day to record $169.12 on the New York Stock Exchange. This is the first time Apple’s stock price has fallen to the $160 range since October last year. As a result, the market capitalization also decreased to $2.612 trillion.
Apple’s stock has fallen for six consecutive trading days, and its market capitalization has evaporated by about $350 billion since the beginning of the year.
Apple was the first U.S. company to surpass a market capitalization of $3 trillion. However, due to sluggish sales in China, the market capitalization has shrunk to around $2.6 trillion.
Meanwhile, the current market capitalization leader is Microsoft, valued at around $3 trillion.
sinopark@news1.kr