The world’s first trillion-dollar company, Apple ended trading on Wednesday with a market value of a whopping USD2.307 trillion or RM10.95 trillion. That means that Apple was valued to be worth more than three of its tech competitors combined, namely Alphabet, Amazon and Meta.
As reported by Business Insider which sourced data from Yahoo Finance, Apple is worth more than the market caps of the three aforementioned companies. On Wednesday, Google’s parent company Alphabet was at USD1.126 trillion or ~RM5.35 trillion, Amazon at USD939.78 billion or ~RM4.46 trillion and Meta at USD240 billion or ~RM1.13 trillion.
Overall though, Big Tech stocks suffered a brutal selloff last week on the back of disappointing quarterly earnings. However, Apple's stock has outperformed its peers after it beat Wall Street's revenue and profit forecasts for the fourth quarter of 2023. Alphabet, Amazon and Meta's lacklustre earnings are worrying for the companies and signalled the declining demand for digital advertising. The poorly-received results have helped wipe billions off their market values as their shares fell, and pushed Amazon out of the trillion-dollar market cap club.
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