The Strategist

Apple's day market cap hits record for U.S. companies

11/11/2022 - 09:55

According to trading and media estimates, Apple Corp. grew in value by $190.9 billion, or 8.9%, during Thursday's trading, setting a record for American corporations.

At the close of trading on Thursday, the price of the company's shares increased by 8.9% to $146.87. Thus, Apple had a $2.336 trillion market capitalization.

Bloomberg reported that "softer-than-expected inflation figures lifted stock markets around the world," adding that "the world's most expensive corporation added $190.9 billion to market value, the biggest ever for a U.S. listed company."

Inflation in the United States dropped from 8.2 percent a month earlier to 7.7 percent in October. This information caused the stock market to react with an unheard-of level of optimism, sending its key indicators surging. NASDAQ index of high-tech companies in particular increased by 7.35%.