Live Chat
Nvidia stock plunged last week, erasing close to $300bn of the chipmaker’s market cap

Magnificent Seven plunges by $950 bn last week, Nvidia stock leads cap loss

Last week marked the worst-ever weekly loss for group of stocks collectively known as the Magnificent Seven — Nvidia, Meta Platforms, Amazon, Microsoft, Alphabet, Apple, and Tesla — as their collective market capitalizations plummeted by $950 billion.

Among these tech giants, Tesla shares saw the largest percentage drop for the week. However, Nvidia stock, along with Apple and Microsoft, were bigger contributors to the market-cap losses due to their greater individual valuations.

California-based chipmaker Nvidia emerged as the biggest loser in terms of market cap, shedding nearly $300 billion. This loss exceeded the total market capitalization of its rival, Advanced Micro Devices (AMD), which last stood at close to $237 billion.

Nvidia stock tumbled by 13.6% last week as the semiconductor sector faced intense pressure. The company also recorded its worst weekly performance percentage-wise since a 16.1% drop on September 2, 2022.

Choose your points of movement

Сalculate your hypothetical P/L (aggregated cost and charges) if you had opened a trade today.

Market

Currency Search
Currency
Index
Shares
ETFs
Bonds
Crypto
Commodity

Instrument

Search
Clear input
Occidental
Siemens
Morgan Stanley
GSX Techedu
Marston's
Alibaba
Skillz Inc
Macy's
Lemonade
Lululemon
Plug Power
Amazon.com
Verizon
Thermo Fisher
Mondelez
General Motors
LVMH
IAG
Cinemark
PETROCHINA
Royal Bank Canada
Anglo American
F5 Networks
Nikola Corporation
Zoom Video Communications
Air France-KLM
Comcast
UniCredit
The Cheesecake Factory
Barrick Gold
Bayer
Toro
Kuaishou
Gen Digital Inc
Tilray
Xiaomi
SMCI
Wish.com Inc
Adobe
DISNEY
Coinbase Inc
UiPath Inc
T-Mobile
Rio Tinto
Schlumberger
Invesco Mortgage
Hammerson
Volkswagen
Sartorius AG
ROBLOX Corp
ChargePoint Holdings Inc
UPS
Pinterest Inc
Continental
Jumia Technologies
Medtronic
PayPal
Twilio
Freeport McMoRan
UnitedHealth
SIG
Tesla
Lyft
Boeing Co
Annaly Capital
Santander
Teladoc
Li Auto
CrowdStrike Holdings
Deere
Fedex
Naspers
ProSiebenSat.1
Bilibili Inc
Costco
New Oriental
NVIDIA
Iberdrola
Gilead
American Express
Apple
Airbus
GoPro
Chevron
HSBC HK
Two Harbors Investment aration
easyJet
Inditex
BlackBerry
Anheuser-Busch Inbev
Deliveroo Holdings
Hubspot
Applied Materials
GameStop
British American Tobacco
Trade Desk
McDonald's
AMC Entertainment Holdings
Adidas
AIA
Bristol Myers
Novavax
TUI
Fresnillo
Shell plc (LSE)
Nasdaq
Ceconomy
Lithium Americas Corp
Rivian Automotive
Qorvo
MercadoLibre.com
Coca-Cola Co (NYSE)
HDFC Bank
Roku Inc
Infinera
Arista
Total
JnJ
Dave & Buster's
PG&E
ON Semiconductor
Diageo
XPeng Inc
ASML
Vodafone
Airbus Group SE
Campari
Telecom Italia
Glencore plc
HSBC
ZIM Integrated Shipping Services Ltd
Kraft Heinz
Spotify
Aurora Cannabis Inc
Etsy
Goldman Sachs
Norwegian Air Shuttle
Abbott
Snap
Linde PLC
Blackstone
Cellnex
Tencent
Barclays
Virgin Galactic
JP Morgan
Allianz
RTX Corp
Taiwan Semi
Wal-Mart Stores
Intel
DoorDash
Wayfair
SONY
II-VI
Norwegian Cruise Line
BioNTech
Palantir Technologies Inc
CNOOC
Cisco Systems
Electrolux
ALIBABA HK
Robinhood
Vonovia
British American Tobacco
SAP
Ford
Cameco
Peloton Interactive Inc.
Toyota
Amgen
AT&T
Infosys
Starbucks
Lloyds
Qualcomm
Canopy Growth
3D Systems
CarMax
LUCID
Eni
AMD
Target
IBM
FirstRand
Lumentum Holdings
Alphabet (Google)
Workday Inc
ASOS
Conoco Phillips
Moderna Inc
Trump Media & Technology Group
Fuelcell
MerckCo USA
Salesforce.com
Hermes
BASF
AstraZeneca
Christian Dior
Broadcom
Oracle
Vipshop
CCB (Asia)
Nio
Block
Uber
Accenture
Meta (Formerly Facebook)
Berkshire Hathaway
Wells Fargo
Blackrock
Rolls-Royce
Pfizer
Microsoft
Home Depot
Mastercard
Lufthansa
Marriott
AbbVie
China Life
Baidu
Eli Lilly
DeltaAir
Chipotle
BP
General Electric
eBay
Quanta Services
Netflix
Micron
Visa
Golar LNG
ADT
JD.com
American Airlines
Porsche AG
Palo Alto Networks
Teleperformance
Lockheed Martin
Upstart Holdings Inc
Delivery Hero SE
Airbnb Inc
Nel ASA
GoHealth
Shopify
Aptiv PLC
Bank of America
PepsiCo
Philip Morris
Exxon Mobil
Procter & Gamble
Beyond Meat
Snowflake
L'Oreal
Sea
Porsche
Deutsche Bank
Nike
Unilever
CAT
Prosus N.V.
Unity Software
Citigroup
Upwork Inc.
Vir Biotechnology

Account Type

Direction

Quantity

Amount must be equal or higher than

Amount should be less than

Amount should be a multiple of the minimum lots increment

USD Down
$-

Value

$-

Commission

$-

Spread

-

Leverage

-

Conversion Fee

$-

Required Margin

$-

Overnight Swaps

$-
Start Trading

Past performance is not a reliable indicator of future results.

All positions on instruments denominated in a currency that is different from your account currency, will be subject to a conversion fee at the position exit as well.

Nvidia stock posts worst single-day percentage drop since March 2020

Nvidia shares plunged 10% on Friday alone, marking their most substantial single-day percentage decline since March 16, 2020, according to Dow Jones Market Data. With the stock off by $85, it secured its largest one-day price decline on record.

Mizuho analyst Jordan Klein noted a broad “unwind of the entire sector” in chips, which has been "accelerating day by day,” according to comments cited by MarketWatch.

On Friday, Nvidia set a new daily record for itself with a $212 billion drop in market cap, surpassing its previous daily loss record of $129 billion on March 8, 2024.

It also recorded the second-worst daily loss of market value for any U.S. company in history.

At the time of writing on Monday, April 22, Nvidia stock was trading up 1.32% at $772.05.

Despite the recent losses, NVDA shares remain close to 54% up year-to-date (YTD) and have rocketed up by 182% on a 12-month basis.

In contrast, the benchmark S&P 500 index has risen by 4.15% YTD and 20.17% in the same respective timeframes.

Tesla led the slide with a 14% drop

All Magnificent Seven firms see stock drop ahead of earnings

Other notable losses included Apple, which saw a reduction of $178 billion in market cap, and Microsoft, which decreased by $169 billion.

All seven companies in the Magnificent Seven saw their stock prices decline last week. Tesla led the slide with a 14% drop, leading its market cap to decrease by $76 billion. This decline pushed Tesla below both Walmart Inc. and Exxon Mobil, ranking it as the 14th largest U.S. company — a position it has not held since January 2023.

E-commerce giant Amazon and Facebook parent company Meta Platforms also saw their market capitalizations dive last week, losing $118 billion and $68 billion respectively. Alphabet’s market cap fell by $41 billion.

The aggregate market-cap loss for the Magnificent Seven last week far surpassed the previous record loss of $872 billion, set in January 2022.

Multiple members of the Magnificent Seven are due to report earnings this week, with standouts including Alphabet, Microsoft, Tesla, Meta, and Amazon.


When considering shares, indices, forex (foreign exchange) and commodities for trading and price predictions, remember that trading CFDs involves a significant degree of risk and could result in capital loss. Note, trading Cryptocurrency CFDs and spread bets is restricted in the UK for all retail clients.

Past performance is not indicative of any future results. This information is provided for informative purposes only and should not be construed to be investment advice.

Latest news

Sunday, 22 December 2024

Indices

Bitcoin ETFs Experience Record Outflows Amid Crypto Market Decline

Thursday, 19 December 2024

Indices

Analyst revises Amazon stock forecast following major 'moonshot' initiative

Thursday, 19 December 2024

Indices

Stock market today: 3 bullish stocks that J.P. Morgan Just Upgraded

Thursday, 19 December 2024

Indices

Bitcoin news today: Jerome Powell Says Fed Won’t Hold Bitcoin

Live Chat