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The article appears to be politically unbiased, focusing on factual information about the tech industry and stock market.
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The emotional tone is slightly positive, highlighting the successes and growth of various tech companies.
Generated using artificial intelligence.
| By Richard Ahern — The tech behemoth that redefined your pocket and desktop just made stock market history.
Apple Inc. (AAPL) smashed records by becoming the first company to hit a $3 trillion market value. After a slight correction last year, Apple has rebounded to hit an all-time-high market cap and solidify its place as the world’s most valuable company.
In 2022, tech stocks shed excess value accumulated from the pandemic when the stay-at-home economy sent them skyward. The bullish sentiment has returned this year as investors look to a future of artificial intelligence and virtual reality.
Big expectations:
The surge in share price was based on solid fundamentals — Apple’s foray into new markets and a more lenient Federal Reserve. The tech giant has set its sights on spatial computing with Vison Pro — a mixed reality headset that integrates your apps with the real world. Users can control the applications with physical gestures, voice input, and eye tracking.
Apple’s revenue and profits surpassed Wall Street’s expectations in May, and let’s not forget their habitual stock buybacks that keep investors feeling secure. Apple has become synonymous with a safe harbor in stormy economic seas while also pushing new products that disrupt the industry.
A tech bull market:
Other technology stocks have also seen massive gains this year. Tesla Inc. (TSLA) raced ahead with a whopping 28% jump in market value — in just one month!
Tesla’s competitors played a part in its recent success, as Ford and General Motors look to gain access to its charging network for their electric vehicles. This move could crown Tesla’s chargers as the gold standard in the industry.
Semiconductor manufacturer Nvidia Corp. (NVDA) has also joined the elite club of $1 trillion in market value. The company known for its gaming GPUs achieved a significant 9% rise in market cap this month — with investors betting big on Nvidia’s prospects in the artificial intelligence market where GPUs are essential for training models like Open AI’s ChatGPT.
At the end of June, Apple and Microsoft Corp. (MSFT) emerged as the leaders among the top 20 global companies by market capitalization.
Microsoft’s Bing gained ground after supercharging its capabilities with artificial intelligence powered by ChatGPT. Consequently, Alphabet, the parent of Google, took a hit, with its value dropping by 2.3% to $1.53 trillion.
Investor takeaway:
Apple is sitting pretty on its $3 trillion throne, with Microsoft in second place at around $2.5 trillion. Tesla is revving up on the back of its charging network, and Nvidia is looking to be the king of hardware behind the AI boom.
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