Apple Is Now Worth More Than Google, Facebook And Amazon – Combined

Apple is now worth more than the big tech giants like Alphabet, Amazon, and Meta combined. Apple ended trading Wednesday with a market value of $2.307 trillion. All at the same time, the combined market cap of these three tech giants added up to $2.306 trillion at the close of trading Wednesday. Google parent Alphabet’s market cap stood at $1.126 trillion, Amazon’s at $939.78 billion, and Facebook parent Meta’s at $240.07 billion, Yahoo Finance data showed. The big tech giants suffered from a major selloff last week, but Apple’s stock outperformed all its peers.

The iPhone maker’s shares soared 8% in the wake of its results. After their earnings reports, Meta plunged more than 20%, Amazon fell about 10%, and Alphabet saw a single-digit decline. Alphabet, Amazon, and Meta’s lackluster earnings signaled that demand for digital advertising is flagging. 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.

Meanwhile, Apple vendors in India are planning to come up with an assembly unit ahead of the Chinese New Year, according to The Economic Times. Prabhu Ram, Head of the Industry Intelligence Group at CMR, told the daily, “I see the shift to India happening independent of the current context.” “The Make in India momentum (for Apple) will continue to gain traction.” The tech giant will also roll out the much-awaited software upgrades for the 5G network in India for its users starting next week.

Despite Apple’s achievement, its market cap has fallen back from its $2.193 trillion value at the end of 2021. A series of headwinds, very high inflation, rising interest rates, fears of recession, and the Ukraine war among them have meant tech stocks have struggled in 2022 as investors lost their appetite for higher-risk assets.

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