Big Setback for Apple as Nvidia Surpasses in Global Market Race
In a dramatic shift within the tech industry, Apple’s dominance in China has been eclipsed by local competitors Vivo and Huawei. Once leading the smartphone market in China, Apple experienced a significant 17% decline in sales last year, marking its largest annual drop since 2016. This setback reflects changing consumer preferences and heightened competition in the Chinese market.
Simultaneously, Apple has faced a substantial $510 billion decrease in market capitalization over the past three weeks, leading to a reshuffle in global tech rankings. Nvidia has emerged as the new frontrunner, outpacing Apple to become the world’s most valuable company. Nvidia’s shares surged by 4.43%, increasing its market cap to an impressive $3.601 trillion. In contrast, Apple’s shares saw a modest rise of 0.53%, placing its market cap at $3.365 trillion. Since December, Apple’s stock has plummeted by 14%, further impacting its market position.
Currently, Nvidia, Apple, and Microsoft each boast market caps exceeding $3 trillion, with Microsoft’s standing at $3.317 trillion. Analysts speculate that the race to become the first $4 trillion company could conclude as early as this year.
Meanwhile, Amazon is leading the charge for a market cap of $5 trillion. With a current valuation of $2.471 trillion, experts predict Amazon could reach this milestone by the end of the decade. The company’s aggressive investments in artificial intelligence and cloud infrastructure, coupled with strong performance in e-commerce and advertising, are driving record-breaking free cash flow, potentially positioning Amazon as the world’s first $5 trillion company.
Original Source: https://www.india.com/business/big-blow-to-apple-from-china-nvidia-leaves-behind-iphone-maker-in-smartphone-selling-who-is-leading-usd-5-trillion-race-7562279/
Category : Business,Apple,Apple iPhone,china,Huawei,iPhones,NVIDIA,Smartphone seller,vivo
Tags:
Publish Date: 2025-01-24 08:25:00
