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As of 9:58 AM EST, the stock market saw a mix of losses in technology shares and gains in the pharmaceutical sector. Tesla (TSLA) fell 4.75% to $314.84, bringing its market capitalization to $1.01 trillion. The EV company’s sales have slid by almost 50% across Europe in the first month of 2025.
Ahead of its earnings report release on Wednesday, NVIDIA (NVDA) also declined, dropping 2.01% to $127.66, with a market cap of $3.13 trillion. As reported by Bloomberg, some officials in the Trump administration aim to place further restrictions on the type of Nvidia chips that can be exported to China without a license. However, Palantir Technologies (PLTR) slipped 2.19% to $88.69, valuing the company at $208.01 billion, this decline leads to the data analytics company’s fourth straight day of loss due to probable defense rate cuts.
Apple (AAPL) edged up 0.42% to $248.14, maintaining its status as the world’s most valuable company with a market cap of $3.73 trillion.The iPhone maker company’s stock has not fluctuate much after the company expressed its US investment plans Meanwhile, Meta (META) saw a decline of 1.46%, trading at $658.36, with a valuation of $1.67 trillion, continuing its downturn.
Other major tech giants also struggled. Microsoft (MSFT) dropped 0.64% to $401.42, with a market cap of $2.98 trillion. Whereas, the e-commerce giant Amazon (AMZN) slid 1.04% to $210.50, bringing its valuation to $2.23 trillion.
MicroStrategy (MSTR) suffered the steepest loss, plummeting 8.39% to $259.05, lowering its market capitalization to $66.88 billion. Super Micro Computer (SMCI) also faced heavy losses, declining 7.22% to $47.89, with a market value of $28.04 billion. The chipmaker company is yet to file for its accounts for the year ended June 30, 2024, and fiscal first quarter ended Sept. 30, 2024, or risk being delisted by the Nasdaq stock exchange, resulting in the stock’s decline.
Lastly, Eli Lilly (LLY) bucked the trend, rising 2.88% to $906.79, boosting its market cap to $859.79 billion. The stock surged on Tuesday after the pharmaceutical company said it would sell higher doses of its blockbuster weight-loss drug Zepbound for cheaper to customers paying out of pocket.
Disclaimer: This article is for informational purposes only and does not constitute any financial advice.