Apple Was Briefly Worth More Than Amazon, Meta, And Alphabet Combined This Week
Apple continues to be the company hit the least by ongoing tech stock uncertainty and as a result it found itself worth more than Amazon, Meta, and Alphabet combined earlier this week.
The suggestion that Apple would be worth more than those three companies combined might have once seemed unlikely, but that’s exactly what happened earlier this week according to Yahoo Finance.
Apple finished Wednesday with a $2.31 trillion market cap, with the other three combined worth $2.3 trillion.
That was in part thanks to a seemingly never ending stock price slump for Meta, a company whose price has been in freefall for some time now. Apple’s prices have been helped by new iPhone sales and a robustness that other tech stocks have not been able to match in recent weeks.
Apple’s September quarter saw it report record-high earnings, but that hasn’t left the company willing to splash the cash. Recent reports have Apple slowing down hiring in an attempt to ensure that it doesn’t spend too much money. It also recently announced price increases for some of its services, including Apple TV+, Apple Music, and the subscription bundle Apple One.
Apple recently released a new 10th-gen iPad as well as a refreshed iPad Pro, but new MacBook Pro notebooks are no not expected to be announced until the early part of 2023.