- Tech giant Apple's market value soared a record $190.9 billion on Thursday, per Bloomberg.
- Its market cap skyrocketed to $2.34 trillion, thanks to Apple's shares soaring 9% amid a broader rally.
Tech giant $4 hit a huge milestone on Thursday when its market value surged $190.9 billion in a single day — a record for a US-listed company, per $4.
That's thanks to a market rally, which skyrocketed Apple's market capitalization to $2.34 trillion.
Shares of Apple — now the world's most valuable company — closed 8.9% higher at $146.87 on Thursday alongside a $4. The surge was fueled by data which showed $4 and stoked hopes that the Federal Reserve would slow its pace of interest rate hikes.
But despite Thursday's rally, it's been a brutal year for tech stocks which have been battered by rising inflation, rising interest rates, and uncertainty from the Ukraine war.
The tech-focused $4 100 index closed 7.5% higher on Thursday, but is still 29% lower this year so far.
Though the $4 share price is down 17% this year, it has still outperformed its $4 thanks to its better-than-expected fourth-quarter earnings on October 27. Analysts told $4 that Apple's powerful branding and wealthy customers are supporting the company.
In comparison, $4 share price is down 42%, $4 has slumped 67%, $4 has plummeted 54%, while $4 has tanked 35% so far in 2022.