MarketPR
AAPL is in focus after Apple displaced Nvidia as the world's most valuable company, closing out the chipmaker's long run at the top of the global market cap ranking. Nvidia shares have underperformed through the move.
The shift traces to Wall Street rotating toward companies that power the infrastructure side of the AI buildout.
The rotation the tape is pricing Nvidia's stretch at the number one position was the market's clearest read on which name would define the AI investment cycle.
The chipmaker sat at the center of that trade for an extended period. The underperformance, per the source, has been ongoing as Wall Street repositions toward infrastructure.
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