Apple Retains $3T Status, Nvidia Does Not As Market Overcomes Volatility
Portfolio Pulse from Surbhi Jain
Apple retains its $3 trillion market cap despite market volatility, while Nvidia falls short. The tech sector faces a sell-off, with major players like Microsoft and Amazon also experiencing significant losses. ETFs like QQQ and QQQM are impacted.
August 07, 2024 | 2:47 pm
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NEGATIVE IMPACT
Amazon, along with other tech giants, has experienced significant losses, contributing to the overall market sell-off.
Amazon's significant losses amidst the tech sector sell-off indicate short-term negative sentiment among investors.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 70
NEGATIVE IMPACT
Microsoft, like Nvidia, achieved the $3 trillion milestone but is currently valued at $2.59 trillion amidst market turbulence.
Microsoft's drop in market cap amidst market volatility indicates potential short-term investor concerns, similar to Nvidia.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 80
NEGATIVE IMPACT
Nvidia falls short of its $3 trillion market cap due to recent market turbulence, despite a 129.54% surge over the past year and a 110.51% increase year-to-date.
Nvidia's failure to maintain its $3 trillion market cap amidst market volatility suggests potential short-term investor concerns despite strong annual gains.
CONFIDENCE 85
IMPORTANCE 85
RELEVANCE 100
NEGATIVE IMPACT
The Invesco QQQ Trust ETF is impacted by the tech sector sell-off, entering correction territory.
The QQQ ETF's entry into correction territory reflects the broader tech sector's struggles, impacting investor sentiment.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
The Invesco NASDAQ 100 ETF is affected by the tech sector sell-off, mirroring the performance of QQQ.
The QQQM ETF's performance is closely tied to the tech sector, and it is similarly impacted by the recent sell-off.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 80
NEGATIVE IMPACT
The Technology Select Sector SPDR Fund has declined 4.77% since the beginning of August, outpacing the S&P 500 Index's losses.
The XLK ETF's decline reflects the broader tech sector's struggles, indicating short-term negative sentiment among investors.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 70
POSITIVE IMPACT
Apple retains its $3 trillion market cap despite market volatility, showing a 15.87% increase over the past year and a 7.64% gain year-to-date.
Apple's ability to maintain its $3 trillion market cap despite market turbulence indicates strong investor confidence and robust financial health.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100