The article discusses the recent shift in market capitalization among tech giants Apple, Microsoft, and Nvidia. Apple and Microsoft, which had previously held the coveted trillion-dollar market cap status, have seen their valuations decline, while Nvidia’s market cap has skyrocketed, propelling it into the trillion-dollar club. Nvidia’s surge is attributed to the growing demand for its chips used in artificial intelligence applications. The company’s stock has soared over 160% this year, driven by the AI boom and its dominance in the AI chip market. On the other hand, Apple and Microsoft have faced challenges, with Apple grappling with supply chain issues and slowing iPhone sales, while Microsoft’s cloud business has faced increased competition. The article highlights the rapidly evolving tech landscape and the impact of emerging technologies like AI on market valuations and investor sentiment.
Source: https://www.cnn.com/2024/06/13/investing/apple-microsoft-market-cap-nvidia/index.html