Apple is now worth more than Alphabet, Amazon, and Meta combined

Apple’s market value reached $2.307 trillion on Wednesday, making it worth more than the combined value of tech giants Alphabet (the parent company of Google), Amazon, and Meta, reports Business Insider.

For comparison, the market values of the three competing companies rose to a total of $2.306 trillion. Alphabet’s market capitalization was $1.126 trillion, Amazon’s market capitalization was $939.78 billion, and Meta’s was $240.07 billion, according to data from Yahoo Finance.

This news comes after big tech companies experienced a massive sell-off of stocks on Wall Street last week due to disappointing results in the third quarter of this year. However, Apple’s shares outperformed their competitors as they exceeded revenue and profit forecasts.

The iPhone maker’s shares jumped 8 percent following the announcement of financial results. On the other hand, Meta’s shares fell more than 20 percent, Amazon’s by about 10 percent, while Alphabet recorded a single-digit decline.

The weak earnings of Alphabet, Amazon, and Meta signal that demand for digital advertising is declining. Poor reactions to the results cost them billions of dollars in market value, and Amazon also fell to a value below one trillion dollars.

However, over the past five observed quarters, Apple’s shares have risen by 0.16 percent, while Alphabet fell by 5.7 percent, Amazon fell by 17 percent, and Meta lost 7.6 percent of its value. Thus, despite this achievement by Apple, its market capitalization has fallen from a value of $2.193 trillion at the end of 2021.

Additionally, Apple briefly reached a value of $3 trillion at the very beginning of 2022, becoming the first company in the world to achieve this. However, the glory did not last long, as Apple’s value has since fallen by as much as $700 billion. During the same period, Meta’s value fell by $550 billion.

A number of factors have caused investors to lose interest in riskier assets in 2022, including shares of big tech companies. Among them are, of course, high inflation, rising interest rates, fears of recession, and the war in Ukraine.