(COMBO) This combination of images created on July 7, 2020 shows (LR) Facebook CEO Mark Zuckerberg in Paris on May 23, 2018, Google CEO Sundar Pichai Berlin on January 22, 2019, the CEO of Apple Tim Cook on October 28, 2019 at The Founder and CEO of New York and Amazon, Jeff Bezos, in Las Vegas, Nevada on June 6, 2019.
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Four of the largest technology companies in the United States collectively added approximately $ 200 billion in total to their market values after hours on Thursday, as each published solid earnings reports that exceeded analyst expectations on the most fronts.
At the close of Thursday, Apple, Amazon, Alphabet and Facebook had a collective value of $ 4.9 billion. Companies are likely to top $ 5.1 trillion starting on Friday, considering Thursday’s after-hours earnings.
Apple reported a historically strong quarter and added about $ 74.4 billion to its market cap in after-hours trading. Amazon, which experienced an increase in sales due to the coronavirus pandemic, also added approximately $ 74.4 billion. Despite reporting its first annual decline in revenue since it became a public company, Alphabet added $ 7.6 billion. Facebook reported its slowest revenue growth since its market debut in 2012, but added $ 42.6 billion.
The solid earnings reports come a day after the company’s four CEOs spent several hours answering questions from the House Antimonopoly Committee about their power and influence. Despite the interrogation and impending legal action against the four companies, investors did not seem concerned with the proceedings, and continued to raise the shares.
Overall, the four companies plus other tech giants like Microsoft (worth more than $ 1.5 billion) and Tesla (worth more than $ 275 billion) made up for the full value of the NASDAQ 100 earlier this month.
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