Apple’s value surpasses $800bn
Apple’s stocks hit new heights with their market value breaking through $800bn for the first time in the US. Apple reached $802.46bn compared to $508.25bn on 9th May 2016. Investors relaxed as volatility evaporates. S&P 500 zooms past 2400.20 compared to 2058.69 on May9th 2016 and European equities closing at the highest level in nearly two years. With various measures of US equity valuation residing at loft levels, short-dated equity slumbers at a 23-year low. Blue-chip earnings rose 13.3 per cent a share in the first quarter.
The best US earnings season in the last five years have send Wall Street to new heights. The S&P 500 hit a record 2, 403.87 on 9th May 2017, as both the Nasdaq Composite and Nasdaq 100 indices also hit fresh records as the biggest rises have been in the tech sector.