Apple is now more valuable than Alphabet, Amazon and Meta combined
Apple's market value is now greater than Alphabet, Amazon and Meta combined. The iPhone maker's value stands at $2.307 trillion, while its tech peers total $2.306 trillion. Tech stocks suffered after posting poor quarterly results, but Apple dodged a wipeout.
This story originally appeared on Business Insider.
Loren Elliott/Reuters via Business Insider
Apple's market capitalization was $2.307 trillion as of Wednesday's close.Apple is now worth more than other tech giants Alphabet, Amazon and Meta combined after ceasing operations Wednesday with a market value of $2.307 trillion.
Meanwhile, the market caps of its three tech giants stood at $2.306 trillion as of Wednesday's close. The market capitalization of Google's parent company Alphabet was $1.126 trillion, Amazon's was $939.78 billion and Facebook's parent company Meta was $240.07 billion, according to data from Yahoo Finance.
Overall, Big Tech stocks suffered a sharp sell-off last week on disappointing quarterly results. But Apple stock outperformed its peers after beating Wall Street's revenue and earnings forecasts for its fourth quarter.
Shares of the iPhone maker jumped 8% following its results. After their earnings reports, Meta plunged more than 20%, Amazon fell around 10%, while Alphabet saw a single-digit drop.
Sluggish revenue from Alphabet, Amazon and Meta indicated that demand for digital advertising is weakening. The poorly received results helped wipe billions off their market values as their shares tumbled, and pushed Amazon out of the trillion-dollar market cap club.
Over the past five sessions, Apple stock has risen 0.16%, while Alphabet has fallen 5.7%, Amazon has fallen 17.0% and Meta has lost 7.6% during this period.
Despite Apple's success, its market capitalization has fallen from its value of $2.193 trillion at the end of 2021. A series of headwinds (high inflation, rising interest rates, fears recession and war in Ukraine, among others) have prompted tech stocks. struggled in 2022 as investors lost their appetite for high-risk assets.
This story has been edited to correct the market cap figure in the headline. Apple's market value is $2.307 trillion, not $2.037 trillion.
This founder took her jewelry blog from Side Hustle to a multi-million dollar business. Here's how she made the clean cut.
Forget Pride Month.
This story originally appeared on Business Insider.
Loren Elliott/Reuters via Business Insider
Apple's market capitalization was $2.307 trillion as of Wednesday's close.Apple is now worth more than other tech giants Alphabet, Amazon and Meta combined after ceasing operations Wednesday with a market value of $2.307 trillion.
Meanwhile, the market caps of its three tech giants stood at $2.306 trillion as of Wednesday's close. The market capitalization of Google's parent company Alphabet was $1.126 trillion, Amazon's was $939.78 billion and Facebook's parent company Meta was $240.07 billion, according to data from Yahoo Finance.
Overall, Big Tech stocks suffered a sharp sell-off last week on disappointing quarterly results. But Apple stock outperformed its peers after beating Wall Street's revenue and earnings forecasts for its fourth quarter.
Shares of the iPhone maker jumped 8% following its results. After their earnings reports, Meta plunged more than 20%, Amazon fell around 10%, while Alphabet saw a single-digit drop.
Sluggish revenue from Alphabet, Amazon and Meta indicated that demand for digital advertising is weakening. The poorly received results helped wipe billions off their market values as their shares tumbled, and pushed Amazon out of the trillion-dollar market cap club.
Over the past five sessions, Apple stock has risen 0.16%, while Alphabet has fallen 5.7%, Amazon has fallen 17.0% and Meta has lost 7.6% during this period.
Despite Apple's success, its market capitalization has fallen from its value of $2.193 trillion at the end of 2021. A series of headwinds (high inflation, rising interest rates, fears recession and war in Ukraine, among others) have prompted tech stocks. struggled in 2022 as investors lost their appetite for high-risk assets.
This story has been edited to correct the market cap figure in the headline. Apple's market value is $2.307 trillion, not $2.037 trillion.
This founder took her jewelry blog from Side Hustle to a multi-million dollar business. Here's how she made the clean cut.
Forget Pride Month.
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