Apple now accounts for close to 7 per cent of the S&P 500’s total market value. Its market capitalisation is about equal to the combined values of the S&P 500’s 200 smallest companies. — Reuters pic
Buoyed by bets on the long-term success of the country’s biggest tech names in a post-coronavirus world, Apple’s shares have surged since blowout quarterly results in July that saw the iPhone maker eclipse Saudi Aramco as the world’s most valuable listed company. Apple’s stock is up about 57 per cent so far in 2020.
However, Apple’s recent stock rally has left it potentially overvalued, according to a widely used metric. The stock is trading at over 30 times analysts’ expected earnings, its highest level in more than a decade, according to Refinitiv. Apple’s revenue grew across every category and all of its geographical regions in the June quarter, even as the coronavirus crisis caused the US economy to contract at its worst rate since the Great Depression.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Apple is first US company to hit US$2 tril in market valueIt is the latest demonstration of how tech giants have benefited from the coronavirus. FMTNews
Source: fmtoday - 🏆 5. / 72 Read more »
Apple becomes first US company to hit US$2t in market value | Malay MailNEW YORK, August 19 — Apple today became the first US company to reach US$2 trillion (RM8.34 trillion) in market value in the latest demonstration of how tech giants have benefited from the upheaval of the coronavirus. The iPhone maker attained the distinction in mid-morning trading and was up...
Source: malaymail - 🏆 1. / 86 Read more »
Apple becomes 1st US company to hit $2 trillion in market value | New Straits TimesNEW YORK: Apple on Wednesday became the first US company to reach $2 trillion in market value in the latest demonstration of how tech giants have benefited from the upheaval of the coronavirus.
Source: NST_Online - 🏆 17. / 53 Read more »
Apple is first US company to hit US$2 tril in market valueIt is the latest demonstration of how tech giants have benefited from the coronavirus. FMTNews
Source: fmtoday - 🏆 5. / 72 Read more »
Stocks rally on new US highs, dollar at 2-year low | Malay MailNEW YORK, Aug 19 — Global equities rose yesterday as strong corporate results and accelerating US homebuilding lifted the S&P 500 past highs set before the coronavirus crushed world economies, in a stimulus-fuelled rally that has also pushed the dollar to two-year lows. Both the S&P 500...
Source: malaymail - 🏆 1. / 86 Read more »