Apple adds $190 billion to m-cap in single day, sets stock market record

(Image Courtesy: Apple)

US-based tech company Apple Inc. added $190.9 billion in market value overnight on November 10, the most ever by a US-listed company.

The Cupertino giant's market capitalization now stands at $2.34 trillion.

At the same time, the market cap of other three tech giant added up to $2.306 trillion. Google parent Alphabet's market cap stood at $1.126 trillion, Amazon's at $939.78 billion and Facebook parent Meta's at $240.07 billion, Yahoo Finance data showed.

Also Read: Apple India’s revenue crosses $4-bn mark, profit up 3% in FY22

Last week, Apple's market value rose more than Alphabet Inc., Amazon and Meta combined with a market value of $2.307 trillion.

Apple witnessed a strong double-digit revenue growth in emerging markets like India for the September-ended quarter, chief executive Tim Cook said last month. It said, Apple currently has a 37% share in the premium smartphone market and a 3% market share in the country's overall smartphone market.

The US stock market was also lifted on Thursday  after a softer-than-expected inflation data buoyed equity markets across the board.  Consumer inflation reached 7.7 percent in October from a year earlier and 0.4 percent from September, the Labor Department said on Thursday.

The year-over-year gain in CPI was the smallest since January. Excluding volatile food and energy prices, core inflation rose 6.3 percent in the past 12 months and 0.3 percent from September.