July 27 Market Report: Nvidia's $5T Dominance Amid Big Tech's Flat Trend

Nvidia's $5 Trillion Dominance Amid Flat Trading for Big Tech

A review of global market data on July 24, 2026, shows that major Big Tech companies generally traded flat. Nvidia, with a market capitalization of 5.06 trillion won, closed at 208.76 won, down 0.02% from the previous session. Apple also saw minimal fluctuation, slipping 0.01% to 321.66 won while defending the 4.72 trillion won market cap mark. Alphabet saw both its common and non-voting shares fall by 0.07%, trading in the high 310-won range. As the broader market searches for direction, a trend of earnings differentiation among individual stocks is becoming increasingly apparent.

Stock	Current Price	Change	Market Cap	PER	EPS Growth
Nvidia	208.76 KRW	-0.02%	5.06T KRW	32.0	6599.3%
Apple	321.66 KRW	-0.01%	4.72T KRW	38.9	2258.6%
Alphabet (GOOGL)	317.69 KRW	-0.07%	3.89T KRW	15.9	3419.4%
Microsoft	381.58 KRW	-0.02%	2.83T KRW	22.7	1551.4%

In contrast to the negligible movements in stock prices, underlying earnings growth rates have been overwhelming. Nvidia’s price-to-earnings ratio (PER) appears high at 32x, but its earnings per share (EPS) growth rate stands at a staggering 6,599.3%. This indicates that actual earnings are successfully absorbing the massive expectations already baked into the current stock price. Meanwhile, Microsoft posted a growth rate of 1,551.4% alongside a relatively lower PER of 22.7x, placing it among the most attractively valued stocks.

Semiconductor Sector Polarization and the Resurgence of the Memory Cycle

During the same period, the semiconductor sector experienced a stark divergence in fortunes. Tesla plunged the most, dropping 0.15% to 319.69 won. Its PER skyrocketed to 343.8x, while its EPS growth rate plunged to -4,709.0%. This is a direct reflection of slowing EV demand and fundamental profitability deterioration in its financial data. Nevertheless, the market continues to assign a high premium based on long-term visions like artificial intelligence (AI) and autonomous driving. However, lofty prices lacking earnings support act as a major factor compounding investment risk.

Stock	Current Price	Change	Market Cap	PER	EPS Growth
Micron	990.21 KRW	+0.03%	1.12T KRW	22.4	-
Tesla	319.69 KRW	-0.15%	1.26T KRW	343.8	-4709.0%
ExxonMobil	156.89 KRW	+0.02%	0.65T KRW	26.0	-1505.1%

Conversely, memory chipmaker Micron pursued an upward trajectory. The stock gained 0.03% from the previous day to close at 990.21 won, bringing its market cap to 1.12 trillion won. Its PER of 22.4x serves as an indicator reflecting expectations for a profitability recovery. With demand surging for high-bandwidth memory (HBM) used in AI servers, the value of the traditional memory semiconductor supply chain is being reassessed. According to the Wall Street Journal (WSJ), massive capital from U.S. investors has recently flooded into AI-related chip stocks, prompting warnings that American Depositary Receipt (ADR) prices have abnormally surged. This investment frenzy is analyzed as the core driving force propelling the valuation expansion of leading memory stocks like Micron.

Defensive Strength of Value Stocks and Future Market Outlook

While growth stocks undergo technical corrections, the defensive capabilities of traditional value stocks are standing out. Berkshire Hathaway held steady at 490.85 won, maintaining a market capitalization of 1.06 trillion won. With a PER of 14.6x, its valuation burden remains low. ExxonMobil also ticked up by 0.02% to 156.89 won. Although its EPS growth rate posted a dismal -1,505.1% due to a prolonged slump in the petrochemical industry, stable crude oil prices and a shareholder return-friendly policy are providing structural downside support. A trend of capital seeking refuge in undervalued blue-chip stocks is being detected as the broader market loses direction.

The minute fluctuations in the current stock market are interpreted as a temporary cooling-off period as massive capital searches for its next direction. The fact that even companies with thousands of percent in EPS growth are seeing stock price movements limited to around 0.1% suggests that market participants are taking a cautious stance ahead of upcoming earnings reports.

As the AI investment frenzy continues, market warnings regarding valuations are growing louder. However, the earnings turnaround centered on semiconductors and Big Tech remains valid. If the earnings reports of domestic semiconductor companies and U.S. Big Tech firms released this week meet expectations, bargain-hunting inflows are likely to form another upward trend. This is a critical juncture for investors to formulate differentiated investment strategies by thoroughly reviewing core financial metrics such as individual stock EPS, rather than relying on blind optimism.