Apple does not know the crisis, and is now worth more than all its competitors combined.
The Apple has an appetite. To the point of swallowing all the competition in its path. This Wednesday, November 2, the company closed its stock market trading with a $2.307 trillion market value, a little over two trillion. The figure makes you dizzy, and it has reason: it’s more than all the rest of GAFAM combined. For comparison, consider Business Insiderthe market value of Alphabet (Google), Meta and Amazon combined is only “that” of $2.306 trillion.
The golden apple
In addition to Apple and its dizzying 2.307 trillion dollars, the market capitalization of other web giants is also enough to turn heads: Alphabet, the parent company of Google is estimated at 1.126 trillion and Amazon at 939.78 billion dollars. Far behind, Meta is meanwhile valued at $240.07 billion, according to data reported by Yahoo finance.
Overall, it is therefore a downward trend that is essential among GAFAM. The last quarter was marked by a multifactorial crisis (economic, political and environmental), and this is reflected in the stock market valuations of companies. Only Apple is doing well and outperforming: unlike the competition, the firm even beat the profit forecasts established a few months ago by the wall street journal regarding its balance sheet for the fourth quarter of 2022. Shares of the American giant soared 8%while the rest of the market suffered a general decline, ranging from a few points for Alphabet to 20% for Meta.
A significant drop in the competition, which can be explained by multiple factors, but in particular the reduction in targeted advertising. The one that made the great hours of Facebook and Google has experienced a sharp drop in popularity in recent years, in part because of Apple offering more control to its users, much to the chagrin of Facebook.