Amazon briefly becomes most valuable company

“Amazon.com briefly became the most valuable company on Wall Street in intraday trade on Monday, days after Microsoft Corp dethroned long-time leader Apple Inc,” Noel Randewich reports for Reuters. “Amazon rose as much as 4.7 percent, putting its market capitalization at $865.0 billion. Apple traded up 2.1 percent, giving it a market capitalization of $864.8 billion.”
“Microsoft, which on Friday closed above Apple’s market capitalization for the first time in eight years, was up 0.9 percent, leaving its stock market value at $859.0 billion, third in the group,” Randewich reports. “Apple in August became the first U.S. publicly-listed company to reach a $1 trillion market capitalization, but its share price has fallen sharply in recent months as investors worried that demand for iPhones was losing steam.”
Read more in the full article here.
MacDailyNews Take: The only “investors” who are worried that demand for iPhones is losing steam are those who are led by the nose by so-called analysts who are in the midst of pitching a $300+ billion hissy fit over losing their precious-yet-ultimately-meaningless iPhone unit sales numbers.
Smart investors are accumulating during this deep discount sale.
SEE ALSO:
Why Apple is now focusing on users, not units – December 3, 2018
Analysts see Apple’s long-term potential despite recent overwrought selloff – November 30, 2018
Morgan Stanley projects Apple’s Services revenue to grow to $100 billion by 2023 – November 29, 2018
The pessimism and hypocrisy surrounding Apple is endless – November 28, 2018
In the darkest hour of Apple’s ‘white-knuckle period,’ some investors are loving it – November 21, 2018
Poor news curation at Bloomberg, CNBC, Reuters created misleading iPhone supply chain panic – November 19, 2018
WSJ: Apple slashes production orders for all three new iPhone models – November 19, 2018
Misreading Apple’s supply chain and iPhone XR demand – November 15, 2018
Apple: Ignore the noise – November 14, 2018
Dialog Semi says not seeing hit to demand from Apple – November 14, 2018
Don’t panic about iPhone sales just yet – November 14, 2018
Apple stock: This is not a repeat of 2015-16 – November 14, 2018
iPhone XR production cuts not due to soft demand – analyst – November 10, 2018
Apple’s Asian suppliers fall on report of canceled iPhone XR production boost – November 6, 2018
Nikkei claims iPhone XR production cuts, Apple stock drops over 3% – November 5, 2018