🥕 [Carrot's Chart Pick] Nvidia Lost the #1 Spot?! Testing Support Levels Amid Profit-Taking 📊 - 2026.07.17

Hey there, God-vidia shareholders! Carrot (🥕), the intern reporter who's serious about charts and sentiment, is here! ✨

Many of you have probably been on the edge of your seats watching our Nvidia charts lately, right? For real, the market flow this week was no joke. I'll break it down for you focusing on facts and numbers, so pay attention!

📊 Lost #1 Market Cap? Short-term Correction and Support Level Test

Wow, this is wild—Apple reclaimed the global #1 market cap spot during intraday trading as AI investment directions shifted ^{[1] [2]}. With profit-taking orders pouring in following the recent AI rally, semiconductor stocks including Nvidia are showing simultaneous weakness in the New York stock market ^[3]. The semiconductor index fell by 4%, which has somewhat heightened fears regarding AI spending ^[8].

Looking at the actual stock data, it fell for two consecutive days from a closing price of 207 dollars (-2.40%) on July 16 to a closing price of 203 dollars (-1.98%) on July 17, seemingly testing the bottom of its short-term box range. The intraday low on the 17th dropped to 197 dollars, so whether the support level in the low 200 dollar range holds is the real key. Carrot sees this as a process where the market is cooling off from overheating and forming a new box range. 🥕 So everyone, keep your head in the game! You know my trademark, right? No full buy, no full sell, act only when support levels break! 🎯

💡 Rubin Delay Rumors Squashed! Jensen Huang's Big Picture

While the chart is a bit shaky, the fundamental issues are quite interesting. First, there were rumors that the launch of the next-generation AI system 'Vera Rubin' would be delayed, but our CEO Jensen Huang stepped up personally to flatly deny it ^[4]. He says everything is proceeding exactly according to the roadmap. Furthermore, Jensen Huang gave a confident outlook, stating that as trillions of AIs start using computers, the semiconductor industry will become overwhelmingly the largest industry in the world ^[9].

Technically, Nvidia isn't sitting idle either. Analysis suggests they have officially entered the race to drastically lower AI inference costs and boost efficiency using CXL (Compute Express Link) technology ^[5]. They are aiming to dominate the data center economics as well!

⚠️ Risks to Watch & Supply/Demand Issues

However, we can't let our guard down completely as a supply chain issue has emerged. News broke that the U.S. International Trade Commission (ITC) has launched an investigation into a potential import ban on Samsung Electronics' DRAM ^[6]. If this becomes a reality, the supply chains of major AI server manufacturers like Nvidia and Google could be shaken, so we need to monitor this closely.

Finally, one interesting issue! Former U.S. President Trump is facing conflict-of-interest controversies after posting a flurry of praise (?) for certain Big Tech companies on social media immediately after purchasing their stocks, including Nvidia ^[10]. It's a case where political issues are entangled, so let's see how it affects market sentiment. On the other hand, there is solid news from institutions as Baxter Bros Inc. increased its stake in Nvidia ^[7], so the supply/demand balance doesn't look bad.

It's been a rollercoaster week, but let's respond smartly by keeping a close eye on the chart's support levels! I'll be back next week with more fact checks. Bye! 🥕✨

📰 Reference News (7)

2

Apple overtakes Nvidia to reclaim global market cap #1 intraday - Yonhap News

연합뉴스 · 2026.07.17

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3

[AI MY News] New York Semiconductor Preview... Nvidia and memory stocks weaken together on AI rally profit-taking - Newspim

뉴스핌 · 2026.07.17

📰 View original

4

Jensen Huang Denied Delay Reports for Nvidia's Vera Rubin AI Systems - Yahoo Finance

Yahoo Finance · 2026.07.17

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5

Nvidia, CXL, And The Battle To Improve AI Inference Economics (NASDAQ:NVDA) - Seeking Alpha

Seeking Alpha · 2026.07.17

📰 View original

6

US ITC launches investigation into Samsung DRAM import ban... Will Nvidia and Google AI server supply chains be shaken? - Global Economic

글로벌이코노믹 · 2026.07.16

📰 View original

📺 Reference Videos (3)

8

YouTube

[Kim Jong-hak's New York, Now - July 17] Deepening fear over AI spending | Semiconductor index falls 4% | Apple-Nvidia market cap gap narrows | Google Gemini launch setback | Netflix plunges

▶한경 글로벌마켓·2026.07.16

9

YouTube

Jensen Huang: Semiconductor industry will become world's largest by far #worldnow

▶CGTN·2026.07.17

10

YouTube

Trump repeatedly promotes Big Tech stocks on SNS right after purchase... Conflict of interest controversy

▶연합뉴스경제TV·2026.07.16