Nvidia’s stock slipped on Monday, ceding ground to Apple as the broader market delivered a mixed performance.
The chip sector faced pressure ahead of a heavy week of technology earnings reports. Investors weighed the outlook for artificial intelligence spending and semiconductor demand.
Apple gained ground, overtaking Nvidia in market value for the session. The shift underscored ongoing competition among the largest tech companies.
The Nasdaq composite fell 0.2% for the day. Declines in chip and tech shares weighed on the index.
In contrast, the Dow Jones Industrial Average rose 0.5%. Gains in industrial and financial stocks helped lift the blue-chip index.
The S&P 500 ended the session nearly flat. The benchmark index struggled for direction as sector performance diverged.
Major earnings reports from Microsoft, Amazon, and Apple are due later this week. Their results could set the tone for the market in the coming days.
Traders also monitored economic data and Federal Reserve policy signals. Interest rate expectations remained a key focus for investors.
Bond yields edged higher, adding pressure on growth stocks. The 10-year Treasury yield rose slightly during the session.
Market volatility remained subdued, with the Cboe Volatility Index holding near recent lows. Investors appeared cautious but not anxious ahead of earnings.
