In the early trading session on the New York stock market, semiconductor and software/platform stocks moved in opposite directions among the top stocks by trading value. As of around 11 p.m. on the 8th Korea time (around 10 a.m. on the 8th Eastern U.S. time), only three of the top 10 stocks by trading value were rising—Palantir Technologies, Meta, and Alphabet Class A—while the other seven were all declining. Five of the seven declining stocks are related to semiconductors and memory.

About Half of Trading Value Concentrated in Semiconductors

The flow of funds is clearly tilted toward semiconductors. The combined trading value of the top 10 stocks by trading value is about $28.78 billion. Of this, four semiconductor-sector stocks—Micron Technology, NVIDIA, AMD, and Intel—account for about $14.008 billion, or 48.7%. Adding SanDisk, classified as computer hardware, brings the figure to about $16.898 billion, raising the share to 58.7%. More than half of the capital in the top tier is concentrated in declining semiconductor and memory stocks.

Memory Falls Sharply, GPUs Slightly... A Gap in Declines

Even within semiconductors, the magnitude of declines differs. Intel is trading down 2.95% at $109.78, SanDisk down 2.80% at $1,645.11, and Micron down 2.15% at $1,064.59. In contrast, NVIDIA is down 0.87% at $235.40 and AMD is down 1.10% at $638.75, showing relatively smaller declines. Memory and storage stocks are falling more than 1 percentage point more than GPU stocks.

Micron tops the list by trading value at $5.853 billion, surpassing NVIDIA ($3.935 billion).

However, the individual catalyst behind this decline cannot be identified from the market data provided. The data only confirms that selling is occurring broadly across the sector.

Palantir Ranks First in Gains and Trading Intensity

The software and online services sector is on an upward trend. The most notable stock is Palantir. Palantir is trading up $6.48 (3.34%) from the previous day at $200.60, ranking first in gains among the top 10 stocks. Its trading volume of 17,024,100 shares is the second largest after Intel (17,991,211 shares) and exceeds that of NVIDIA (16,775,724 shares).

Palantir's trading intensity becomes clearer when compared with its market capitalization. According to the reporter's calculation of the trading-value-to-market-cap ratio (turnover rate), Palantir's is about 0.71%—roughly 5 times that of fellow gainer Meta (about 0.14%) and about 8 times that of Alphabet (about 0.09%). With a market cap of $482.762 billion, about a quarter of Meta's, Palantir's trading value of $3.408 billion exceeds both Meta ($2.565 billion) and Alphabet ($2.022 billion). This indicates that early-session buying and selling activity is concentrated in Palantir.

Meta is trading up $1.14 (0.16%) at $722.45, and Alphabet Class A is up $1.12 (0.32%) at $351.62. While their gains are modest, both stocks remain in positive territory amid semiconductor weakness. Alphabet's market cap is $2.356 trillion and Meta's is $1.8405 trillion. The combined market cap of the three rising stocks, including Palantir, is about $4.6793 trillion.

Tesla, SpaceX, and the Rest Also Weak

The remaining stocks are also weak. Tesla is trading down 1.29% at $372.93, and SpaceX is down 1.19% at $165.61. SpaceX's market cap of $2.249 trillion is the third largest among the top 10 stocks, after Alphabet.

In summary, the top tier of the New York stock market by trading value in the early session is split between weakness in semiconductors and hardware and strength in software and platforms. However, based on early-session data alone, it is difficult to determine whether this trend reflects a rotation of capital between sectors or a standalone semiconductor correction.

[This article is for informational purposes only and does not constitute investment advice. U.S. stocks differ from domestic stocks in trading hours, taxation, and settlement structures, and KRW-converted returns may vary with exchange rate fluctuations. As intraday prices fluctuate constantly, investors must check the latest market prices and corporate disclosures directly before investing, and responsibility for investment outcomes lies with the investor. This article was partially generated by AI.]