Apple is certainly an American tech giant that is doing its best right now. It was worth more on the stock market last week than Alphabet, Amazon and Meta combined.
Of all the American tech giants, Apple seems to be the most successful at a time when the market is (still) going through major storms. Proof: For a short time last week, the Cupertino-based company boasted a market capitalization higher than Alphabet, Amazon, and Meta… combined!
Apple is clearly an American tech giant that is doing its best right now
According to Yahoo Finance, the market value of Apple shares at the end of the day on Wednesday, November 3, was $2.31 trillion, while the sum of the capitalizations of Alphabet, Amazon and Meta was “only”$2.3 trillion. Those numbers have since changed: at the time of this writing, Apple’s capitalization is $2.21 trillion. But it’s proof of Apple’s resilience in the face of the global financial crisis, which has seen most companies’ stocks drop for about a year now.
Apple shares, which are currently worth $138.38, have been falling since last December when they were worth $179.5, but have been steadily rising since June thanks to strong financial results in the third quarter of 2022.
It was worth more on the stock market last week than Alphabet, Amazon and Meta combined.
Alphabet and Amazon are far behind, with Alphabet stock currently trading at $83.4, far from its high of $148.9. Amazon price is trading at $89.3 versus $186 at its highest level. But worst of all remains Meta, whose stock has plunged to its lowest level since 2015, in part because of its stubbornness to invest billions of dollars in an ecosystem that is struggling to convince the metaverse. Meta shares are worth $88.9 today, hitting their all-time high in September 2021 of $378.7. The market capitalization of the Menlo Park firm has fallen below $235.8 billion, making it the 34th largest company in the world, which was once the 6th in this ranking with a capitalization of $1,070 billion.