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Apple, an American technological corporation, concluded trading on Wednesday with a market value of $2.307 trillion, according to statistics from Yahoo! Finance, making it now more valuable than contemporaries Alphabet, Amazon, and Meta combined. At the end of trading on Wednesday, the market capitalizations of its three largest IT companies were $2.306 trillion. According to statistics from Yahoo Finance, the market capitalization of Facebook parent Meta was $240.07 billion, Amazon was $939.78 billion, and Alphabet, the parent company of Google, was $1.126 trillion.
After releasing financial numbers for the fourth quarter that were better than anticipated, Apple’s shares jumped more than 8% on Friday.
The increase in value contributed $178 billion to Apple’s market capitalisation and sparked an amazing stock market recovery. After releasing their earnings results, Amazon and Meta both had declines of more than 20%, Alphabet experienced a fall of less than 10%.
According to the site, Alphabet, Amazon, and Meta’s disappointing profits showed a drop in interest in digital advertising. The unfavourable findings caused their shares to plummet, wiping off billions from their market valuations and forcing Amazon to quit the exclusive group of businesses with trillion-dollar market capitalization.
According to Market Watch, the disparity highlights the year’s dramatic decline in technology share prices. As of the end of 2021, Apple had a market value of $2.913 trillion, according to Dow Jones Market Data. At that time, the combined value of Alphabet, Amazon, and Meta was $4.410 trillion.
According to reports, during the last five trading sessions, Apple’s stock has increased by 0.16 percent, while Alphabet has down by 5.7% percent, Amazon has decreased by 17.0%, and Meta has decreased by 7.6 percent.
