In the past month, Apple’s stock price has performed far better than other large technology companies, and its current market value exceeds that of Amazon, Meta and Alphabet combined. As of Wednesday’s market close, Apple’s market cap was $2.307 trillion, a figure equal to the combined market caps of Google, Amazon, and Meta.
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Overall, big tech stocks suffered a severe sell-off last week amid disappointing quarterly results. But Apple shares outperformed their peers after the company beat Wall Street’s fourth-quarter revenue and profit expectations. After the earnings report, Apple shares surged 8%, Meta plunged more than 20%, Amazon fell about 10%, and Alphabet fell 9.1%.
Since then, Meta’s valuation as of Wednesday’s close was $240 billion, and Amazon’s market value fell below $1 trillion for the first time on Tuesday.
It is reported that this year, Apple’s stock price has fallen 18.3%, Alphabet has fallen 40.5%, Amazon has fallen 44.7%, and Meta has fallen 73.1%. In addition, all four companies reported earnings last week, and only Apple’s earnings elicited a positive reaction from the stock market.
Moreover, Apple has been sticking to its own development path and focusing on its core business. Unlike Musk’s high profile, Cook is very low-key. “Boring is the new thing at Apple,” said Michael Gartenberg, a former Apple employee, and journalist.