Nasdaq 100 Gets a Lift As Nvidia Overtakes Apple: Stock Market Today

Key takeaways

• Nvidia overtakes Apple as the world’s most valuable company, buoyed by a margin‑boosting rally in chip stocks amid solid economic data.
• Nasdaq 100 up 0.7% to 28,184
• Apple gross margin
  guidance

  What a company says it expects for future sales or profits — a forecast from the company, not a guarantee.

  45‑46%
• Nvidia shares up 2.9% to $207.95

What happened

The Nasdaq 100 climbed 0.7% to 28,184 as chipmakers rallied, while Apple’s warning that its gross margin would fall to 45‑46% in the December quarter dragged the Dow down. Nvidia’s share price jumped 2.9% to $207.95, lifting its market value to $5.01 trillion and overtaking Apple’s $4.83 trillion to become the world’s most valuable company. Job openings hit 7.5 million in September, above the 7.1 million forecast, and factory orders rose 1.8% in September, beating expectations.

Why it matters

Apple’s margin outlook signals higher memory costs that could squeeze other device makers, dampening tech sector momentum. Nvidia’s surge reflects renewed confidence in AI chip demand and lifts the broader market’s valuation. Strong labor and manufacturing data support a resilient economy, keeping Treasury yields…

Short-term and longer-term

Short-term. For the next few days, watch Nvidia’s price action for signs of a breakout or pullback; a reversal could shift momentum back to Apple or other chip names.

Longer-term. Over the coming months, Nvidia’s new market‑cap leadership could alter long‑term sector weighting, potentially boosting AI and semiconductor exposure in portfolios.