Apple, an American technology company, concluded trading on Wednesday with a market value of $2.307 trillion, according to data from Yahoo! Finance, making it now more valuable than contemporaries Alphabet, Amazon, and Meta combined.
At the end of trading on Wednesday, the market capitalizations of its three largest tech companies were $2.306 trillion. According to data from Yahoo Finance, the market capitalization of Facebook parent Meta was $240.07 billion, Amazon was $939.78 billion, and Alphabet, the parent company of Google, was $1.126 trillion.
Following the release of better-than-anticipated fourth-quarter earnings results, Apple's stock increased by more than 8% on Friday. This rise increased Apple's market capitalization by $178 billion and fueled a strong recovery in the broader stock market. After releasing their earnings reports, Meta stock sank by more than 20%, Amazon fell by roughly 10%, and Alphabet fell by less than 10%, NDTV reported.
According to the site, Alphabet, Amazon, and Meta's disappointing earnings showed a drop in interest in digital advertising. The unfavourable results caused their shares to plummet, wiping out billions from their market valuations and forcing Amazon to leave the exclusive group of businesses with trillion-dollar market caps.
According to Market Watch, the disparity highlights the year's dramatic decline in technology share prices. As of the end of 2021, Apple had a market value of $2.913 trillion, according to Dow Jones Market Data. At that time, the combined value of Alphabet, Amazon, and Meta was $4.410 trillion.
According to reports, over the last five trading sessions, Apple's stock has increased by 0.16 per cent, while Alphabet has decreased by 5.7% per cent, Amazon has decreased by 17.0%, and Meta has dropped by 7.6 per cent.