AI Stock Market Roundup w/c 21st of October

Each week I review the biggest movements within the AI stock market from last week and let you know what key market trends to look out for in the coming week, to keep you updated and ahead of the curve.

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Main AI Stock Market Movers

Ticker: AAPL | Price: $231.41 | Market Cap: $3.52T | Weekly Loss: 1.54% ⬇️

Apple lagged behind the broader tech market this week as Nvidia applied pressure to take the crown for the most valuable company in the world. The company has decided to drop the price of the iPhone 16 in China in an attempt to boost single-day sales numbers. Tim Cook also met with the Chinese Industry Minister this week to discuss boosting sales and investment in China with a focus on local supply chains. This price drop has not been received well by the market and could be the reason for Apple's under-performance this week.

Ticker: NVDA | Price: $141.54 | Market Cap: $3.47T | Weekly Gain: 2.65% ⬆️

Nvidia killed it this week continuing the bullish momentum that saw price break and hold the previous all-time high. The stock ended the week just behind Apple in market cap, just below the $3.5T milestone. Q3 earnings are expected on November 20th and are predicted to show robust performance from its Hopper and Networking platforms. If earnings impress the market, Nvidia could be the first company to be worth $4T. The chip maker is up over 200% this year alone and is valued at more than Germany and Italy combined. However, this historic performance may pose a threat to ETF's like the S&P500 with Nvidia contributing over $2T in market cap to the the index, accounting for over a quarter of the gains seen in the index of 500 companies.

Ticker: MSFT | Price: $428.15 | Market Cap: $3.18T | Weekly Gain: 2.39% ⬆️

Microsoft had a strong week of trading, breaking out of a consolidation zone and racing higher. Microsoft is adding the popular game "Call of Duty" to its game pass after their acquisition of Activision Blizzard for $75B earlier this year. In other news, Microsoft's LinkedIn was fined $335M by the Irish Data Protection Commission for violating data protection rules. Also, the tech giant will be releasing a new Copilot Studio AI model, which will allow companies to create custom tools. A preview is expected next month.

What To Watch This Week

Look out for Nvidia to continue its momentum to become the most valuable company in the world

Look out for Unemployment Claims releasing on Thursday at 8:30am EST

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