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Apple becomes the first American company to surpass $3 trillion in stock value as other tech giants thrive

Jun 30, 2023 at 11:21 PMUpdate: 6 hours ago

Apple is the first American company to close on the stock exchange with a value of more than 3 trillion dollars (more than 2.7 trillion euros). The share of the tech group has been hitting the record limit for some time.

This year, a share of Apple was worth 49 percent more. That means $984 billion in value has been added since January 1.

As of Friday morning, Apple was already above $3 trillion. In the end, the share closed 2.3 percent higher and reached a market value of $ 3.052 billion.

Other large companies also made profits. For example, NVIDIA recently became worth more than 1 trillion dollars. The stock market value rose 3.6 percent. This was mainly due to the opportunities for the company in the field of artificial intelligence (AI).

Video streaming service Netflix increased in value by 2.9 percent and Facebook parent Meta Platforms, Microsoft and Amazon increased by a maximum of 1.9 percent.

There were also losers on the trading floor. Sports brand Nike surrendered 2.7 percent. The American sporting goods brand saw sales increase last quarter, but profits were under pressure. Nike is still overstocked and has to make discounts to get rid of the excess stock. For the first time in three years, Nike fell short of Wall Street analysts’ expectations.

2023-06-30 21:21:17
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