For a moment, Apple’s market value exceeded that of Amazon, Alphabet and Meta combined

Despite the crisis, business is doing quite well for Apple. While most tech giants are in the red, the Californian firm recorded a record revenue of $90.1 billion during the last quarter, i.e. a 8% increase compared to the same period in 2021.

The announcement of its excellent quarterly results had a direct impact on Apple’s market capitalization. According to data from Yahoo Financeshe has reached $2.307 billion when markets close last night.

For comparison, that of Amazon, Alphabet (Google’s parent company) and Meta combined was $2.306 billion. For a moment, the Cupertino company was therefore worth more than these three tech giants combined.

The tumble continues for Meta

Facebook’s parent company is experiencing one of its worst timessince 2016. Its market capitalization fell below $300 billionwith a drop of more than 70% over one year.

While not quite as catastrophic, the declines were also significant at Alphabet and Amazon, whose market values ​​fell by 43.73% and 48.63% over the past 12 months.

According to some analysts, however, the situation should not improve for the current quarter, even for Apple.

Featured Image: Zetong Li/Unsplash

Source : Yahoo News

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