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Offbeat Apple stock soars as it races to a $1 trillion market cap

18:11  01 august  2018
18:11  01 august  2018 Source:   cnbc.com

Facebook's $120 billion stock rout is biggest market history

  Facebook's $120 billion stock rout is biggest market history Facebook was on track Thursday to post the largest one-day market cap loss by any company in U.S. stock-market history after releasing a disastrous quarterly report. Through midday Eastern Time, the social media giant's market capitalization had plummeted by about $120 billion to about $508 billion as its stock price fell by more than 19 percent. At Wednesday's close, Facebook's market cap had totaled nearly $630 billion, according to FactSet.No company in the history of the U.S. stock market has ever lost $100 billion in market value in just one day, but two came close.© Provided by CNBCOn Sept. 22, 2000, Intel shed $90.

Apple is set to open more than 4 percent higher Wednesday after a strong third-quarter report, inching the stock toward a $ 1 trillion market value. Shares were trading near 9 premarket, after closing Tuesday at 0.29.

For the first time ever, investors are waiting for a public company to achieve a market value of $ 1 trillion — about the gross domestic product of Indonesia. And the winner could come from among the stocks CNBC's Jim Cramer first dubbed the FANGs — Facebook, Amazon, Netflix and Google

Apple stock jumped Wednesday after a strong third-quarter report, trading more than 5 percent up and inching the stock toward a $1 trillion market value. 

Shares hit the $200 mark during midmorning trading after opening at $199.13. Shareholders had previously been looking for a stock price of $203.45 to make Apple the first trillion-dollar company — though the company is expected to announce an adjusted outstanding share count later Wednesday that is likely to move the threshold. 

The iPhone maker slightly missed Wall Street estimates for sales of the flagship handset, but posted a big beat on average selling price. It also beat on earnings per share and revenue from the growing software and services segment. 

Wall Street was largely bullish on the report, which many saw as Apple staying the course. Analysts for Morgan Stanley and RBC Capital both noted Apple is steadily on its way to $1 trillion. 

"Apple's narrative is shifting towards their ability to sustain mid-single digit sales growth despite flat iPhone units and low-to-mid teens EPS growth via buybacks," RBC analysts wrote in a note. "Hit Snooze for 90 Days. Path to Trillion Intact." 

As of Wednesday's open, Apple has gained 18 percent in 2018 and more than 30 percent in the last 12 months.


China Dethroned by Japan as World's Second-Biggest Stock Market .
China just lost its ranking as the world’s number two stock market. After a Thursday slump, Chinese equities were worth $6.09 trillion, according to data compiled by Bloomberg. That compares with $6.17 trillion in Japan. The U.S. has the world’s largest stock market at just over $31 trillion.China’s stock market overtook Japan’s in late 2014, then soared to an all-time high of more than $10 trillion in June 2015. Chinese equities and the nation’s currency have taken a beating this year amid a trade spat with the U.S., a government-led campaign to cut debt and a slowing economy.

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