Nvidia topped the list with a massive one-day gain of $327 billion in market capitalization, surging 12% on July 31, 2024. The chipmaker’s stock has been on a tear this year, fueled by the artificial intelligence (AI) boom. A few weeks earlier, on June 11, 2024, Apple’s stock also saw its biggest one-day gain since 2022 after the company unveiled its AI system, Apple Intelligence, integrated into its devices.
However, Nvidia also leads the table for the biggest one-day loss, shedding $279 billion in market cap on September 3, 2024. Recently, Wall Street investors have been rotating out of tech stocks like Nvidia and into more defensive sectors such as utilities and consumer staples. The utilities sector within the S&P 500 index has climbed over 21% year-to-date.
Meanwhile, the tech-heavy Nasdaq 100 index has been forming a “falling top” pattern since July 2024, indicating a series of lower highs. This pattern often signifies a downward trend in stock prices.
The iPhone 16 Launch: Apple’s “Most Boring Event Ever”? Where’s the Steve Jobs Magic?
Introducing the new iPhone 16 – Apple’s most advanced smartphone yet. While Apple placed a significant emphasis on AI during its unveiling, with much of the presentation echoing similar sentiments from last year, the iPhone 16 is more than just a collection of impressive algorithms. It’s a testament to Apple’s relentless pursuit of innovation and a showcase of their latest advancements in smartphone technology. With each generation, Apple strives to push the boundaries of what a smartphone can do, and the iPhone 16 is no exception. Get ready to experience the future of mobile computing with the iPhone 16.