Market will not embrace the two-trillion Apple
Or will it?
Apple was in the market in New York on Thursday. The iPhone maker is heading towards the $ 2 trillion stock market value, and that is a psychologically important limit for many investors. There was also a mixed picture at the US stock market on Thursday. Investors on Wall Street responded, among other things, to the latest WW figures from the United States and a hunk of corporate results.
Apple went up 1.8 percent, valuing the company at around 1970 billion dollars. It’s possible the $ 2 trillion limit will be breached sometime in the next few days. The Apple stock has been in the elevator a long time. Apple recently surpassed the Saudi state oil company Saudi Aramco as the most valuable listed company in the world. The oil company, which went to the stock market in Riyadh in December, was already worth 2 trillion dollars, but the coronacrisis caused the price of oil and also the stock price of company.
The most important Stock Exchange meters in New York had a divided lock. The Dow Jones index closed down 0.3 percent on Thursday at 27,896, 72 points. The broad-Composite S & P 500 dropped 0.2 percent to 3373.43 points,and Tech Exchange Nasdaq went up 0.3 percent to 11.042, 50 points.
The financial markets are still looking forward to developments in the negotiations on a new US crisis support package. The political argument about domestic support measures to deal with the crisis continues. That makes investors cautious. In the meantime, it was announced that a further 1 million Americans have come forward last week for a WW benefit. That was less than average.
Of the companies, Cisco Systems clearly suffered a price loss of more than 11%. The creator of network equipment and software came up with less than expected results. A restructuring plan was also announced.
Taxi-app Lyft has had far fewer customers in the second quarter. The company that focuses mainly on the US saw a 61% drop in sales. The stock lost more than 5%.
In addition, the AMC cinema chain announced the opening of the doors after five months of closure next week. The company won over 14 percent of the stock market.
The euro was worth $ 1,1812, compared to $ 1,1820 when the European stock markets were closed earlier in the day. A barrel of American oil cost 0.7 percent less at $ 42.36. Brent oil became 0.8 percent cheaper at $ 45.09 a barrel.