WS #12282
Apple briefly surpassed Nvidia as the world's most valuable company as Nvidia shares fell ~3.5% amid continued rotation out of AI infrastructure into companies better positioned to monetize AI. Semi stocks are trading below 25X forward earnings, a level historically associated with good buying opportunities, with forward EPS estimates rising ~10% since the sector peaked.
Tech Rotation: Apple Overtakes Nvidia
Apple briefly surpassed Nvidia as the world's most valuable company as Nvidia shares fell ~3.5% amid continued rotation out of AI infrastructure into companies better positioned to monetize AI.
Semi stocks are trading below 25X forward earnings, a level historically associated with good buying opportunities, with forward EPS estimates rising ~10% since the sector peaked.