The Big 3: AAPL, GOOGL & NVDA

The Schwab Network's 'Big Three' segment dives into the dominant tech trio—Apple, Alphabet (Google), and NVIDIA—arguing that despite short-term volatility, all three remain central to the AI-driven market rally. Joe Teague, portfolio manager at Rational Equity Armor Fund, challenges the narrative that Apple is a laggard, highlighting its strategic pivot to leverage its ecosystem and hardware for AI integration, with the iPhone 17’s record performance signaling a major upgrade cycle. Alphabet, now nearly neck-and-neck with NVIDIA in market cap, is praised for its rapid AI evolution through Gemini and strategic Apple partnership, transforming its search experience and expanding into autonomous vehicles via Waymo. Meanwhile, NVIDIA, though under pressure after a recent pullback, remains the undisputed backbone of AI infrastructure, with its upcoming May 20 earnings report poised to reshape its trajectory amid rising competition from in-house chips. Rick Ducat’s technical analysis reveals key support levels, volume profiles, and momentum signals—especially for NVIDIA’s 195–180 range and Alphabet’s overbought RSI—suggesting caution ahead of earnings and a potential consolidation phase. The episode reframes the AI narrative not as a race for dominance but as a shift from hardware to implementation, where companies like Alphabet and Apple are proving their ability to scale AI through existing ecosystems. Apple’s resurgence, once seen as a slow adopter, is now a strategic advantage.