In just 24 hours, the market capitalization of Apple He deserved $190.9 billion. In the history of the US stock market, no company had ever registered one appreciation so high in such a short time.
However, the previous record was extremely remarkable in its own right and was very similar to Apple’s rise: we’re talking about Amazon’s 190.8 billion jump in 24 hours last February. On the other hand, Amazon’s value has fallen by $1 trillion in the past 12 months – one of the largest and most sudden market capitalization losses in Wall Street history.
As we highlighted a few days ago, today Apple is also worth as much as Meta, Google, and Amazon combined. In other words, it stays there company listed in the US with the highest market value. Market capitalization is the value obtained by multiplying the unit value of a company’s shares by the total number of shares outstanding. Yet even Apple has not remained immune to the adverse economic climate. The Cupertino company went from a value of more than 3,000 billion to a value of 2.38 billion.
Contrary to what can be said of its rivals, Apple’s books remain in excellent health. The company ended the quarter with record revenues of $90.1 billion, largely due to growth in service revenues.
Source: Lega Nerd
