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Philadelphia Semiconductor Index Falls 1.63%, Enters Bear Market; Nvidia Loses Top Market Cap Spot to Apple

2026-07-17 20:52:32

NVDA-2.32%

AVGO-1.03%

AMD-1.12%

INTC-2.01%

According to Marketwatch, the Philadelphia Semiconductor Index fell 1.63% on Friday (July 17), closing at 11,673.889 points, declining over 20% from recent highs to officially enter bear market territory. Nvidia's market cap dropped to approximately $4.8 trillion, falling below Apple's roughly $4.9 trillion, relinquishing its position as the world's most valuable company. Bank of America analyst Vivek Arya characterized the decline as "summer correction rather than fundamental reversal," noting the semiconductor sector typically underperforms in the third quarter historically. Key chipmakers declined, including Broadcom down 0.97%, AMD down 1.03%, Intel down 2%, and Nvidia down 2.21%.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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