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The four largest technology companies are now worth almost as much as the next 19 largest companies listed in the United States together.
Tomohiro Ohsumi / Getty Images
Mega-capitalization technology companies are growing again.
On another strong day for the general market on Monday, the shares were led by the top three most valued American companies: Apple (AAPL), Microsoft (MSFT) and Amazon (AMZN). The Nasdaq Composite Index rose 2.2% to 10,433.65, a record close. That extends Nasdaq’s rebound to five consecutive days, a period in which the index is up nearly 7%.
- Apple shares recovered 2.7%, to $ 373.85 a record close. The stock has now risen 27% to date, and ended Monday with a market valuation of $ 1.62 trillion, crossing the $ 1.6 trillion level for the first time.
- Microsoft rose 2.2% in the session to $ 210.70, also a record, boosting profit for the year to date to 34%. The software giant now has a valuation of $ 1,598 billion.
- Amazon jumped 5.8% on the day to $ 3,057.04, the first close for the stock above $ 3,000. Amazon shares have soared 65% to date. The company crossed the $ 1.5 trillion level for the first time, ending at $ 1,525 trillion.
The three companies combined are now worth $ 4.7 trillion.
A number of other large-cap tech stocks also hit new highs, including Accenture (ACN), Autodesk (ACAD), Activision Blizzard (ATVI), Cadence Design Systems (CDNS), Nvidia (NVDA), Netflix (NFLX), Adobe ( ADBE), Salesforce.com (CRM), Intuit (INTU), Square (SQ), KLA (KLAC), Synopsys (SNPS) and eBay (EBAY).
As I wrote in the Tech Trader column in last week’s issue of the magazine, the four largest technology companies, the three listed above plus Alphabet (GOOGL), are now worth almost as much as the next 19 largest companies listed on the United States together.
Write to Eric J. Savitz at [email protected]
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