Hangzhou, China - June 3, 2024 - NVIDIA logo and Apple logo in Hangzhou, China Province, June 6, 2024. On June 5, Eastern Time, NVIDIA's stock market value exceeded 3 Trillion, officially surpassing Apple's market value, and officially surpassing Apple's second largest technology, gal a lar lar lar lar lar a lar a lar a lar a lar a lar a lar a lar a lar a lar a lar a lar market value. It is worth noting that in just three months, NVIDIA's market value soared from $2 trillion to $3 trillion. (The image source should read CFOTO/Future Publishing through Getty Images)
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Global technology and CHIP stocks rallied on Monday after the U.S. and China agreed to impose most tariffs on each other's goods.
Technology stocks, such as semiconductor companies and smartphone manufacturers, have been hit hard as trade tensions between the world’s two largest economies threaten to disrupt supply chains and hurt some of the largest U.S. businesses.
But investors gasped during conversations between the United States and China over the weekend and paused temporarily in the "reciprocal" tariffs.
In the United States, NvidiaStill facing many restrictions on chips, it is allowed to ship to China, up about 4% in pre-sales transactions, while AMD Increased by 5%. Broadcom Also about 5% higher Qualcomm.
Other companies in the semiconductor supply chain also jumped. MalvilleLast week, the previously planned investor day was postponed last week, soaring 7.5% in listed trade due to macroeconomic uncertainty.
Taiwan Semiconductor Manufacturing CompanyIt is the world's largest chip manufacturer, and its listed stocks jumped 4% in listings. TSMC's Taiwan-listed shares are closed ahead of the tariff announcement.
In Europe, ASMLthe key machinery supplier needed to make state-of-the-art chips, rose to 4.5% in early trade. Infineon Also higher.
Last month, semiconductors and some electronic devices were exempted from President Donald Trump’s reciprocal tax rates, but the U.S. said the probation is temporary and that the products can still perform special duties.
Investors have been concerned about the impact on major tech stocks, especially those that have touched China, such as Apple and Amazon, whose shares are under pressure this year.
appleIt still accounts for 90% of iPhones in China, and tariffs are expected to increase the cost of the current quarter by $900 million, according to the earnings report this month. Apple shares are above 6%.
Amazon Previous market transactions on Monday rose more than 8%. Many sellers on Amazon rely on Chinese products.
Chinese technology stocks listed in the United States also surged. Chinese e-commerce giant Alibaba and JD.com Higher with Internet companies Baidu.
"As we/China achieve a wider acceleration pathway toward accelerating transactions, we believe markets and technology stocks are on the table now in 2025, as investors may focus on the next step in these trade discussions, which will take place in the coming months," Daniel Ives, head of global technology research at Wedbush Securities, said in a note on Monday.
“This morning, it was a huge win for the Bulls and the best situation for the weekend.”