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As of 12:22 PM EST, most major technology stocks were trading lower, with several companies experiencing significant declines. Tesla, Inc. saw a sharp drop of 8.51%, trading at 302.39 USD, with a market capitalization of 972.66 billion USD. The EV company’s reduced sales in Europe for January 2025 has added to the negative sentiment of the stock.
NVIDIA Corporation lost 2.27%, standing at 127.32 USD, with a market cap of 3.12 trillion USD. According to a report by Bloomberg, some officials within the Trump administration plan to tighten restrictions on the type of Nvidia chips that can be exported to China without a license. Meta Platforms, Inc. declined 2.55% to 651.09 USD, bringing its market cap to 1.65 trillion USD.
Palantir Technologies Inc. slipped 4.08%, trading at 86.98 USD, with a valuation of 204 billion USD, this decline leads to the company’s fourth straight day of loss due to probable defense rate cuts by the Pentagon. On the other hand, the e-com giant Amazon.com, Inc. dropped 2.49% to 207.42 USD, with a valuation of 2.2 trillion USD.
Apple Inc. defied the trend, rising 0.80% to 249.08 USD, maintaining its position as the world’s most valuable company with a market cap of 3.74 trillion USD, after the company revealed its plans to invest millions of dollars in the U.S. However, Microsoft Corporation also faced losses, slipping 1.36% to 398.51 USD, with a market capitalization of 2.96 trillion USD.
Finally, MicroStrategy Incorporated recorded the steepest decline, plunging 11.42% to 250.48 USD, with a market cap of 64.67 billion USD.
Disclaimer: This article is for informational purposes only and does not constitute any financial advice.