As of today, Apple’s stock price rose nearly 2%, with a market value of more than $1.5 trillion. On June 6, Apple’s stock price closed up sharply. As of the close, the stock price reported $331.50, an increase of 2.85%, and the market value broke 1.4 trillion U.S. dollars. This morning, shares of Amazon, Apple, Facebook, and Microsoft closed on record highs. In addition, the Nasdaq Composite Index broke the 10,000-point mark during the day.
The coronavirus pandemic actually affects most businesses. However, new reports claim that tech stocks have been quite stable. At least, they are much better than most companies during the coronavirus pandemic. It is very convenient for tech workers to work remotely. The total value of Amazon, Apple, Facebook, and Microsoft is at about $5 trillion. Apple tops the chart with $1.5 trillion while Facebook is the only group with less than $1 trillion.
While Microsoft rose only 0.8%, Facebook, Apple, and Amazon all rose more than 3% on Tuesday. As for the S&P 500, it plunged 0.8% while Nasdaq Composite rose 0.3%, rising above 10,000 for the first time.
Looking at the five largest tech stocks, only Alphabet (Google’s parent company) did not close an all-time high. Alphabet’s all-time high is $1,524.87 as of February 2019. Its latest performance is about 5% shy of its all-time high.
Away from Apple’s finances, there are reports that the upcoming iPhone 12 series will commence production in July. The report claims that all “iPhone 12” models will go into production next month. However, it is not clear whether all iPhone 12 models will hit the market at the same time. Although Apple is likely to release its “iPhone 12” product line in September as usual, analyst Guo Mingji and others have previously claimed that due to production challenges, high-end mmWave 5G-enabled iPhone 12 high-end models will face postponement.
Apple is expected to release four new iPhone 12 later this year. The iPhone 12 series includes two iPhone 12 models with 5.4-inch and 6.1-inch displays. In addition, it will have another two iPhones (Pro models) with 6.1-inch and 6.7-inch displays. All four models will come with OLED displays, 5G support, and a small notch. There are also rumors that the iPhone 12 Pro model will receive a LiDAR sensor (lidar).
We will have to keep our fingers crossed and watch how the first 5G iPhones will shape the 5G market. Apple has many loyal customers and many of these customers will like to swap their 4G devices. However, the starting price will determine its overall performance.