On June 20th, the US stock market saw Nvidia's stock price soar and plummet, rising more than 3% at the opening and reaching over $140 per share, setting a new historical high with a total market value of $3.45 trillion. The combined market value of Nvidia, Microsoft, and Apple, the three tech giants, reached $10 trillion. However, as of the close, the stock prices of the three tech giants have all plummeted. Nvidia fell 3.54% to $130.78 per share. Apple fell 2.15% to $209.68 per share. Microsoft fell 0.14% to $445.7 per share.
The latest market value is Nvidia at $3.22 trillion, Apple at $3.22 trillion, and Microsoft at $3.31 trillion. The total market value of the three companies is less than 10 trillion US dollars. This also means that Nvidia, after standing at the peak of the US stock market value for a day (excluding the US stock market close on June 19), was regained the top spot in market value by Microsoft.
On the news side, Nvidia CEO Huang Renxun continues to reduce his holdings. According to NVIDIA's latest announcement, Huang Renxun plans to reduce his holdings of 120000 shares of the company's stock on June 20th, corresponding to a total market value of 16.3049 million US dollars. Prior to this, Huang Renxun reduced his holdings of 120000 company stocks daily on June 18th, June 17th, June 14th, and June 13th, corresponding to a total market value of approximately 63.08 million US dollars. According to NVIDIA's 10-Q document released at the end of May, on March 14th this year, Huang Renxun passed the 10b5-1 rule trading arrangement and will sell up to 600000 shares of common stock by March 31st, 2025. Debora Shoquist, Executive Vice President and Chief Financial Officer of NVIDIA, Colette M. Kress, and Ajay K. Puri, Executive Vice President of Global Field Operations, also plan to reduce their holdings of no more than 41100, 50000, and 100800 ordinary shares, respectively, before June 2, May 15, and July 11, 2025.
In addition, there have been reports recently that Huang Renxun and executives held a series of meetings at the end of last year to discuss an increasingly concerning issue, namely whether Nvidia's largest customers will run out of data center space to install Nvidia chips, which may affect Nvidia's sales.
Apple recently announced that it has suspended the development of its next-generation high-end Vision headset. The news suggests that Apple will strive to launch a lower priced and less functional Vision product by the end of next year. In addition, according to sources citing insiders, Apple has held talks with several Chinese companies developing AI models, including Baidu, Alibaba, and Baichuan Intelligence, to find local partners for its AI services. However, several domestic model companies and Apple, which are rumored to be involved, have not publicly responded to this matter.
Goldman Sachs previously raised its Nvidia target price from $120 to $135, while Rosenblatt Securities analyst Hans Mosesmann raised Nvidia's target price from $140 to $200 this Tuesday. JPMorgan Chase recently raised its target price for Apple from $225 to $245, while investment bank analyst Dan Ives recently raised Microsoft's target price from $500 to $550.
On June 20th local time, the three major US stock indexes experienced mixed gains and losses. The Dow Jones Industrial Average rose 0.77%, the S&P 500 Index fell 0.25%, and the Nasdaq fell 0.79%, after seven consecutive days of gains. Among other technology stocks, Amazon rose 1.8%, Meta rose 0.44%, Tesla fell 1.78%, Intel fell 0.03%, and Netflix fell 0.97%.
Financial Enhancement Group analyst Andrew Thrasher said that almost everything now relies on Nvidia and Apple, and it doesn't take much action to make the market fall. Short positions are entering the market, while long positions are still dancing on the edge of the knife.
Huatai Securities, on the other hand, released a research report stating that there have been increasing signals of economic cooling in the United States, and expectations of interest rate cuts have rebounded. Coupled with the main driving force of AI, recent US stocks represented by the S&P 500 and NASDAQ index have hit new highs, but there is severe internal differentiation. The US stock market has seasonal support in July, but it is expected that the volatility will increase.