Nvidia (NVDA.US) is trading over 1% higher today, although the opening was slightly negative. A 10-to-1 stock split occurred on Nvidia shares after Friday's session, and today marks the first session where the shares are traded at just over $120 per share, instead of over $1200 per share. Although a stock split does not affect the company's valuation, historically, a split has sometimes been a motivation for new stock purchases. This factor is pointed out by, among others, Goldman Sachs. On the other hand, in the case of Tesla (TSLA.US), the recent split took place just before a local price peak. It is worth mentioning that Nvidia has surpassed a market capitalization of $3 trillion and has overtaken Apple in the second spot of the most valuable companies.
Nvidia is fighting for the highest close in history. Source: xStation5
Apple (AAPL.US), on the other hand, is losing today, a few minutes before the start of its annual developer conference. It is expected that Apple will present how it intends to use artificial intelligence in software and hardware. It is indicated that an announcement of cooperation with OpenAI in creating a new version of Siri will be made.
Apple's shares are in an interesting technical position. Potentially, we could be talking about a triple top. Source: xStation5
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