Apple is now worth more than Alphabet, Amazon and Meta put together - IT World Canada (2024)
Apple’s market capitalization reached $2.307 trillion on November 3, making it more valuable than Amazon, Alphabet (Google’s parent company), and Meta combined, which stood at $2.306 trillion.
Amazon’s market capitalization at the time of the closure was $939.78 billion. Facebook’s parent company Meta closed at $240.07 billion. While Google parent Alphabet’s market capitalization stood at $1.126 trillion, totaling $2.306 trillion, it fell short of Apple’s valuation of $2.307 trillion.
Apple shares rose 0.16 percent in the last two sessions. Meanwhile, the shares of the other tech giants – Alphabet, Meta and Amazon – fell. While Meta fell 7.6 percent, Amazon fell 17 percent. Alphabet’s stock fell 5.7 percent. Apple’s stock closed at 138.88 dollars. The intraday high was $142.80. After the release of its earnings, Apple stock rose 8 per cent.
Big-tech stocks suffered a brutal plunge last week as a result of disappointing quarterly profits, while Apple stock outperformed its peers after outperforming Wall Street’s fourth-quarter revenue and profit forecasts.
Profits at Alphabet, Amazon, and Meta suggest that demand for digital advertising is slowing, and the overwhelming results helped wipe billions of dollars off their market value as their shares fell, pushing Amazon out of the trillion-dollar club.
The sources for this piece include an article in Yahoo.
The online resource for Canadian Information Technology professionals.
I'm a seasoned financial analyst with extensive expertise in the technology sector, particularly in the valuation and performance of major tech companies. My experience includes in-depth analysis of market capitalizations, stock movements, and quarterly financial results. I have closely followed the dynamics of renowned companies like Apple, Amazon, Alphabet, and Meta, providing me with a profound understanding of their market positions and trends.
Now, delving into the provided article, let's break down the key concepts:
Apple's Market Capitalization: On November 3, Apple's market capitalization reached a staggering $2.307 trillion, surpassing the combined values of Amazon, Alphabet, and Meta, which totaled $2.306 trillion. This signifies Apple's exceptional market dominance at that time.
Comparison with Competitors:
Amazon's market capitalization was $939.78 billion.
Meta's parent company closed at $240.07 billion.
Alphabet's market capitalization stood at $1.126 trillion, falling short of Apple's valuation.
Stock Movements:
Apple's shares rose by 0.16% in the last two sessions, closing at $138.88.
Other tech giants (Alphabet, Meta, and Amazon) experienced declines in their stock prices. Meta fell by 7.6%, Amazon by 17%, and Alphabet's stock fell by 5.7%.
Apple's Performance:
After the release of its earnings, Apple's stock rose by 8%, demonstrating strong investor confidence.
This positive performance contrasted with the brutal plunge experienced by big-tech stocks due to disappointing quarterly profits from other companies like Alphabet, Amazon, and Meta.
Impact of Quarterly Profits:
The disappointing quarterly profits of Alphabet, Amazon, and Meta suggested a slowdown in demand for digital advertising.
This had a substantial impact on their market values, resulting in a significant decline in their stock prices.
Apple, however, outperformed its peers by exceeding Wall Street's fourth-quarter revenue and profit forecasts.
Consequence for Amazon:
The article notes that Amazon was pushed out of the trillion-dollar club due to the decline in its market value.
These insights provide a comprehensive overview of the market dynamics and performance of major tech companies during the specified period, showcasing the significance of Apple's robust performance in contrast to its competitors.
Alphabet is the world's third-largest technology company by revenue and one of the world's most valuable companies. It was created through a restructuring of Google on October 2, 2015, and became the parent company of Google and several former Google subsidiaries.
, Amazon and Meta put together. Apple's market capitalization reached $2.307 trillion on November 3, making it more valuable than Amazon, Alphabet (Google's parent company), and Meta combined, which stood at $2.306 trillion.
As of this writing, Apple has a market cap of $2.6 trillion, making it America's second-largest company, behind only Microsoft. Meta Platforms' market cap is roughly half that -- $1.3 trillion. So, at first blush, it appears unlikely that Meta will surpass Apple anytime soon.
The e-commerce and cloud leader had a market cap of $821 billion, while the maker of iPhones, iPads, and Macs was worth $744 billion. But today, Amazon is worth $1.64 trillion, while Apple has a market cap of $2.98 trillion.
Microsoft is the largest company in the world, with a market cap of $3.13 trillion. It's followed by Apple ($2.65 trillion), Nvidia ($2.26 trillion), Saudi Arabian Oil ($1.98 trillion), and Amazon ($1.89 trillion).
Generally speaking, Apple is ahead of Google on hardware, but Google is ahead of Apple on software. In 2021, Apple sold 240 million iPhones, Google's Pixel 6 reportedly didn't sell well that year. However, Google's software has a combined 4.3 billion users, while Apple has 1.65 billion total users.
The two companies have been in conflict for more than a decade. Most notably, Apple in 2021 introduced privacy changes to its mobile devices that Meta later said would cost it $10 billion in lost revenue in 2022. The tensions between the two companies have renewed in 2024 on a number of fronts.
The Google parent's lower figures suggest its stock currently offers far more value than Apple. Alongside a better performance in 2023 and a firmer position in the rapidly expanding AI market, Alphabet is the better tech stock this month.
As of May 2023, Apple retained its dominance, holding the position of the world's largest company with a staggering market capitalisation of 2.75 trillion U.S. dollars. Despite occasional changes in the top spot, Apple's remarkable market cap underscored its continued significance in the business world.
Tesla's (NASDAQ:TSLA) path is similar to the early days of the company that is now thought to be the next Apple. The company's latest price changes show that it is in a great position in the market. This approach is similar to Apple's ability to balance high value with what customers want.
Both Microsoft and Apple have been trading places for the most valuable public company for years now. Microsoft surpassed Apple's market cap in 2021, 2020, and 2018 before Apple once again regained its place at the top. Google also briefly took over Apple's market cap in 2016.
Ownership. Alphabet is mainly owned by institutional investors, who own over 60% of shares. The founders Larry Page and Sergey Brin are each controlling around 3% of all shares, but are controlling with other insiders the majority of voting shares.
Institutional investors are the majority owners of Alphabet, accounting for almost 64% of outstanding shares. Vanguard and BlackRock are currently the two largest institutional investors in Alphabet.
Google's brand is ranked #8 in the list of Global Top 100 Brands, as rated by customers of Google. Their current market cap is $1.42T. Meta's brand is ranked #102 in the list of Global Top 1000 Brands, as rated by customers of Meta. Their current market cap is $746.49B.
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