Stock Market Today, Jan. 8: Apple Slips After Alphabet Overtakes it on Market Cap

Core Viewpoint - Investors are reassessing Apple's AI strategy and its competitive position as Alphabet surpasses Apple in market capitalization due to stronger AI monetization efforts [1][3][6] Company Performance - Apple shares closed at $259.04, down 0.42%, with a market cap of $3.8 trillion and a trading volume of 50.2 million shares, which is approximately 10% above its three-month average [2][3] - Over the past month, Apple shares have declined nearly 7%, raising concerns about its AI capabilities compared to other tech leaders [6] Competitive Landscape - Alphabet has gained a competitive edge in the AI sector, with its Gemini 3 model receiving positive feedback, resulting in a nearly 4% increase in its stock price over the past month and an impressive 87% rise over the past six months [6] - As a result of Alphabet's advancements, it has overtaken Apple in market capitalization, placing Apple in third among the most valuable companies [6] Market Context - The S&P 500 finished flat, while the Nasdaq Composite decreased by 0.44%, reflecting a mixed performance in the technology sector, with comparisons being made between Apple's offerings and new products from competitors like Dell and HP [5]