AMD dropped by one! Nvidia's market value evaporated by $300 billion this week, and the "Seven Sisters of the US Stock Market" experienced the worst week in history
This week, the combined market value of the "Seven Sisters" evaporated by $950 billion, with Nvidia suffering the most severe market value loss. Tesla's stock price led the decline, plummeting by over 14% this week. Nvidia's stock price tumbled by 13.6%, resulting in a market value loss of nearly $300 billion, far exceeding its competitor AMD
The delay in the expected rate cut by the Federal Reserve has put pressure on the "Big Seven" stocks this week, with a total market capitalization evaporating by $950 billion, making it the worst week in history.
In terms of stock price, Tesla saw the largest decline, dropping by over 14% this week. However, in terms of market capitalization loss, Apple, Microsoft, and Nvidia contributed the most, with these three companies having a much higher market value than Tesla.
Nvidia suffered the most devastating market capitalization loss among tech giants this week, evaporating nearly $300 billion, far exceeding AMD's total market value of $237 billion.
This week, Nvidia's stock price plummeted by 13.6%, marking its worst week since September 2, 2022.
According to Dow Jones market data, Nvidia's stock price plummeted by 10% at the close on Friday, marking the largest single-day drop since March 16, 2020. The stock price fell by nearly $85, setting a new record for the largest single-day drop in history.
Jordan Klein, an analyst at Mizuho Securities, stated that the chip sector is experiencing a "industry-wide pullback," with the speed of the pullback increasing day by day over the past week.
On Friday alone, Nvidia's market capitalization evaporated by $212 billion, setting a new record for the company and surpassing the previous $129 billion market capitalization loss on March 8, 2024. This also marks the second-largest single-day market capitalization loss in U.S. corporate history.
This week, all "Big Seven" stocks experienced a decline, with Tesla leading the way with a 14.03% drop.
This week, Tesla's market value shrank by $76 billion to around $468 billion, falling to 14th place among U.S. listed companies. Tesla was surpassed by Walmart on Thursday and Exxon Mobil on Friday. From January 2023 to last week, Tesla's market value has consistently ranked ahead of these two companies.
Additionally, Apple's market value evaporated by $178 billion this week, Microsoft's market value shrank by $169 billion, Amazon's market value evaporated by $118 billion, Alphabet's market value shrank by $410 billion, and Meta's market value shrank by $680 billion.
For the first time since October last year, the "Big Seven" stocks fell below the 50-day moving average this week, with a total market capitalization loss of $950 billion, far exceeding the record of $872 billion set in January 2022