Nvidia shares' 9% recovery Tuesday was the second-best day in terms of market cap added for any company ever, trailing only a record it set in July.
sent a chill through the U.S. stock market Monday, initiating a massive selloff led by Nvidia , which roared back Tuesday, recovering almost half of itsThat added $260 billion to Nvidia ’s market capitalization — more than the total valuations of American Express, Disney and Goldman Sachs — recovering 44% of thethe second best day for any stock ever in terms of market value added, trailing only the $327 billion rally the AI leader enjoyed July 31, 2024.
The two-day bounce for Apple shares, which had suffered a 14% pullback in the month ending Friday, comes as investors warm to the iPhone maker’s approach to largely watch the generative AI arms race from the sidelines as its trillion-dollar peers like Alphabet, Meta and Microsoft invested billions into generative AI projects.
Apple emerges as a “relative winner” as DeepSeek shifted investor narratives on AI, wrote Morgan Stanley analysts led by Brian Nowak in a Tuesday note to clients, explaining Apple’s “AI ambitions are far more contained” than the other “magnificent seven” American tech leaders. Apple also stands to greatly benefit from any advancements from large-language models, like DeepSeek’s, as Apple “owns the most valuable consumer technology distribution platform that exists,” Nowak added.
Whether Apple stock’s “contained” generative AI ambitions were the result of financial discipline or inadequate innovation is up to interpretation, but Wall Street Journal columnist Joanna SternAfter heading into the week down $143 billion in the race with Nvidia for world’s most valuable company, Apple is now up $498 billion, a more than $640 billion two-day swing.Nvidia settles into a more than 5.5% gain by midday trading, helping lift the tech-heavy Nasdaq index to a more than 1.
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