The broader market The disbandment helped push Apple's stock to new highs this morning. At the start of today's trading, the market capitalization of the tech industry giant and member FAAMG crossed the $ 2 trillion mark before slipping just below the mark.
Shares of Apple They were up just over 59% in 2020, despite the company's latest earnings report reporting a more modest 11% year-over-year increase in revenue. Earnings per share increased 18% in the same quarter, a more impressive metric but still far below the increase in value managed by Apple's equity.
Many tech companies are enjoying a strong market rebound after seeing sharp lows in the immediate wake of COVID-19-related restrictions at home and abroad. Market sentiment seems to argue that when the global economy returns to full power, the market position of tech companies within it will be of greater strength than before. This argument has doubled among companies offering digital services, such as Apple.
Tech stocks have set new all-time highs this year, with the Nasdaq Composite worth more than 11,000 points in the past few days, a record tally after an astonishing rally.
About three years ago the "Big Five" American technology companies - Alphabet, Amazon, Microsoft, Apple and Facebook were worth a total of $ 3 trillion, which was great news at the time. Today, Apple and Microsoft alone are worth about $ 3.6 trillion.
The rise of the tech giants was the story of a decade, their recent earnings the story of the year. Whether the market cohort is now overvalued depends, of course, on the investing public, although the warning signs abound that things are getting a little too hot.
For startups, this is almost all good news. The public markets' enthusiasm for technology stocks makes private stocks appear more valuable and desirable. Public gatherings can help advance IPOs and acquisitions. So today's news that Apple is rich enough to put Croesus to shame means your friendly local startup might be able to close the next round at a price it likes.
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