China News Agency, New York, August 19. The stock price of Apple Inc. once exceeded $468 per share on the 19th, and its total market value exceeded $2 trillion for the first time, but this price could not be maintained to the close.
After the market opened on the 19th, Apple's stock price rose to a maximum of $468.65 per share. According to the current number of shares issued by Apple, a stock price of US$467.77 means a total market value of US$2 trillion. However, Apple's stock price failed to maintain a high point and fluctuated slightly that afternoon, and finally closed at $462.83 per share. Since late March of this year, Apple's stock has been rising all the way, climbing from more than $220 per share to the current price.
Analysis believes that the main reason for the eye-catching performance of Apple's stock price is that consumers' demand for the company's products is very stable. At the same time, as millions of Americans work from home, sales of Apple’s core product, the iPhone, are much better than market expectations.
Apple’s most recent financial report showed that despite the impact of the new crown pneumonia epidemic, the company’s third-quarter turnover of this fiscal year still reached 59.69 billion U.S. dollars, with a profit of 11.25 billion U.S. dollars, which greatly exceeded market analysts’ previous estimates. The market had expected Apple's third-quarter revenue to be slightly higher than $52 billion.
The Wall Street Journal said that consumers’ increasing reliance on technology products has promoted the rapid development of technology companies. In fact, several major US technology giants, including Apple, have performed well in the stock market recently. The market value of Amazon and Microsoft is approximately US$1.6 trillion, Google’s parent company Alphabet has a market value of approximately US$1 trillion, and Facebook’s share price reaches US$760 billion. Together with Apple, these five listed companies account for about a quarter of the S&P 500 index.
Some analysts believe that the current technology giant's stock price has risen too fast, and the possibility of price correction increases. If the new crown pneumonia epidemic continues to worsen, causing a broader impact on the industry, the risks faced by these technology companies will also rise sharply. However, a considerable number of investors said that developed countries currently generally implement a zero interest rate or even a negative interest rate policy, while other companies are struggling to survive the epidemic, and it is difficult to find more suitable investment targets than the major technology giants. (Finish)