Apple Added a Crazy Amount of Market Value in October
Apple’s stratospheric market value soared even higher in October as investors lifted the company’s shares to a new all-time high.
The tech giant added an impressive $ 77 billion in market value during the month, an amount equal to the combined value of eBay, Twitter, Yelp, AMD, and GoDaddy.
Apple ended October with a market value of $ 873 billion, continuing a years-long streak as the most highly-valued publicly-traded company. Google is No. 2 on the list at $ 710 billion followed by Microsoft at $ 642 billion.
Shares in Apple, which reports earnings on Nov. 2, have been rising amid investor optimism about the new iPhone X, which will start shipping on Nov. 3. Analysts expect strong demand for the phone, which starts at $ 1,000, and comes with wireless charging and Face ID, a security feature that relies on facial recognition technology to verify a users’ identity before unlocking the device.
Apple’s shares closed Tuesday up 1.4% at $ 169.04, a new record closing high. During October, the company’s stock gained nearly 10%.
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