NewsBytes
    Hindi
    More
    In the news
    Mukesh Ambani
    WhatsApp
    Reliance Jio
    OPPO
    Vivo
    Sensex
    Bitcoin
    NewsBytes
    Hindi
    NewsBytes
    User Placeholder

    Hi,

    Logout


    India Business World Politics Sports Technology Entertainment Auto Lifestyle Inspirational Career Bengaluru Delhi Mumbai Visual Stories Find Cricket Statistics Phones Reviews Fitness Bands Reviews Speakers Reviews

    Download Android App

    Follow us on
    • Facebook
    • Twitter
    • Linkedin
     
    Home / News / Business News / At $2.3tn, Apple surpasses combined value of Alphabet, Amazon, Meta
    Business

    At $2.3tn, Apple surpasses combined value of Alphabet, Amazon, Meta

    At $2.3tn, Apple surpasses combined value of Alphabet, Amazon, Meta
    Written by Athik Saleh
    Nov 04, 2022, 06:43 pm 2 min read
    At $2.3tn, Apple surpasses combined value of Alphabet, Amazon, Meta
    Apple's Q4 results exceeded Wall Street expectations

    When the market closed on November 3, there was a clear winner among tech giants - Apple. The Cupertino-based tech giant left its rivals Alphabet, Amazon, and Meta far behind in market value. Apple had a market value of $2.307 trillion, while the combined market cap of its three rivals came short at $2.306 trillion. This came after Apple's fourth-quarter results outperformed expectations.

    Why does this story matter?

    • The year 2022 hasn't been a good one for tech companies. Inflation, Ukraine-Russia war, supply crunch, post-pandemic blues... the list of issues goes on.
    • Tech stocks went from the most desired to high-risk assets. Well, except for Apple. The iPhone maker has continued to resist strong economic headwinds.
    • While its rivals are nursing their wounds, Apple's range of products and services keep it safe.

    Alphabet led the rivals with $1.125 trillion valuation

    When trading ended on November 3, Google's parent Alphabet's market cap was at $1.126 trillion, Amazon's at $939.78 billion, and Facebook's parent Meta's stood at $240.07 billion. Apple's value surpassed the trio's combined value marginally to touch $2.307 trillion. This achievement is a result of the company's September quarter results that outperformed its tech rivals and the expectations of analysts.

    Earnings report of rivals sent their shares down

    Alphabet, Amazon, and Meta had a lackluster fourth quarter. Their poor numbers sent their shares tumbling. After their earnings reports, Meta fell more than 20%, Amazon slipped around 10%, and Alphabet saw a single-digit decline. This wiped out billions from their valuation. Apple, on the other hand, has a completely opposite earnings report. After that, its shares went up by 8%.

    Apple's value has declined from $2.901 trillion in 2021-end

    It is true that Apple outperformed its rivals. However, the company itself has fallen from its $2.901 trillion value at the end of 2021. Compared to its rivals, Apple's decline is not as prominent. Its rivals are impacted by macroeconomic headwinds on one side and an advertising crunch on the other. Apple's lack of dependency on the latter is its saving grace.

    Share this timeline
    Facebook
    Whatsapp
    Twitter
    Linkedin
    Latest
    Amazon
    Apple
    Alphabet Inc
    Meta

    Latest

    You know you have become an emotionally mature person when... Relationships
    WhatsApp will soon let you share images in original quality WhatsApp
    25 years of 'CID': Decoding what made it a phenomenon Sony TV
    EU regulator fines Meta again; this time for WhatsApp Meta

    Amazon

    Grab now! These Samsung earbuds are 75% off on Amazon Samsung
    Effective ways to prepare for a possible layoff Workplace
    TECNO PHANTOM X2 Pro's pre-bookings now open: Should you buy? Latest Mobile Phones
    'People are crying': Employee describes grim scenes at Amazon India Andy Jassy

    Apple

    Google upgrades end-to-end encryption for groups chats on Messages Google
    Apple's new smart speaker can check room temperature and humidity HomePods
    Apple announces M2-powered MacBook Pro and Mac mini: Check features Apple Macbook Pro
    Google developing Apple AirTag-like tracker: Things we know so far Google

    Alphabet Inc

    Google parent Alphabet to fire 12,000 employees; Sundar Pichai apologizes Google
    After Meta and Amazon, Google to lay off 10,000 employees Google
    Alphabet Inc. beats all-time record with $61.9 billion revenue YouTube
    NewsBytes Briefing: Reliance is gunning for low-cost laptops, and more Twitter

    Meta

    Instagram introduces 'Quiet' mode: Here's how to use it Instagram
    WhatsApp releases new voice status feature for Android beta users WhatsApp
    WhatsApp will soon allow you to block contacts from notifications WhatsApp
    WhatsApp to allow Android-to-Android chat migration without Google Drive WhatsApp

    Love Business News?

    Subscribe to stay updated.

    Business Thumbnail
    Indian Premier League (IPL) Celebrity Hollywood Bollywood UEFA Champions League Tennis Football Smartphones Cryptocurrency Upcoming Movies Premier League Cricket News Latest automobiles Latest Cars Upcoming Cars Latest Bikes Upcoming Tablets
    About Us Privacy Policy Terms & Conditions Contact Us Ethical Conduct Grievance Redressal News News Archive Topics Archive Download DevBytes Find Cricket Statistics
    Follow us on
    Facebook Twitter Linkedin
    All rights reserved © NewsBytes 2023