Overview
- Apple’s stock climbed to an intraday record of $342.89 per share on Tuesday, lifting its market value briefly above $5 trillion before slipping back below that level.
- Nvidia lost ground as investors sold AI-hardware names, a move driven in part by headlines about a new Chinese AI model and a developing report that Nvidia may arrange up to $250 billion of financing linked to OpenAI.
- Markets favored Apple because it has kept capital spending on large AI data centres relatively low while reporting strong iPhone sales and growing recurring services revenue.
- Sector pressure showed in exchange-traded funds that track chips and memory, with the iShares Semiconductor ETF down about 14% month-over-month and the Roundhill Memory ETF down roughly 29% over the past month.
- The shift signals a rotation toward lower-capital, revenue-stable tech stocks and leaves AI-hardware sentiment fragile until the financing report and the impact of the Chinese model are confirmed.