The year 2022 has been one of the most difficult times for most big tech giants as stock prices continue to fall and fall. This resulted in global economic challenges. However, despite these difficult times, Apple has stood firm against strong headwinds, and the company has reached three in a dozen.
As of today, Apple’s market value has surpassed Amazon, Google, and Facebook combined. According to Dow Jones Market Data, Apple’s market valuation as of the close of US equities on the 2nd was $2.307 trillion, surpassing the combined $2.306 trillion of Alphabet, Amazon, and Meta.
Joseph Carlson, a financial blogger, initially announced the information on Twitter. The outcome highlights how much tech stocks have surged this year. Apple will have a market value of $2.913 trillion at the end of 2021, while Alphabet, Amazon, and Meta will have a combined market value of $4.410 trillion.
Over the previous month and thus far this year, Apple has performed better than the other three IT behemoths. Apple stock has increased 4.9% over the past month, while Alphabet, Amazon, and Meta have all decreased. Apple has decreased 18.3% year-to-date, Alphabet by 40.5%, Amazon by 44.7%, and Meta by 73.1%.
Last Thursday, when all firms announced their earnings, only Apple’s share price increased. Following the release of the earnings report, both Amazon and Meta’s market values dropped below $300 billion. In each of the last six trading days, the price of Amazon’s stock has fallen, and on Tuesday, the firm lost its trillion-dollar status for the first time since April 2020.
Bernstein analyst Mark Shmulik recently highlighted the challenges facing the big tech companies in what he called an autopsy of their latest results. He pointed out that because they all have varied companies and in this volatile market environment, investors are more likely to pick out symptoms of weakness in any one of those areas. Alphabet, Amazon, and Meta now have to demonstrate perfection.