Apple's market cap increased on July 10 to $1.53T. According to MacRumors, Apple has become this way the first US company to exceed a market cap of $1.5T.
Apple shares increased by 2.57% to a record $352.84.
Apple currently has 4.3B shares outstanding. Its total volume over the last few years has been falling due to the fact that Apple is actively buying them, which positively affects the price of the remaining shares in the market.
Microsoft's market cap is also close to a record level: $1.49T.
According to Barrons's, the growth of these companies' shares coincides with a decline in major indices. Thus, the S&P 500 index has fallen by 1.7%, while the Dow Jones has dropped by 1%.
The media indicates the growth of Apple's and Microsoft's shares is driven by the covid-19 crisis and the protests in the United States. Investors believe the shares of these tech giants are safe enough to invest their funds.
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