Investors view Apple stock as a refuge. In 2021, assets were up more than 30%, after an 80% increase in 2020. By comparison, the S&P 500 is up 25% in the same period. The company reached $ 1 trillion in market capitalization in 2018 and it took two years to double that valuation.
The major stock indices on Wall Street were up on Monday. Tesla shares soared more than 10% after the company’s quarterly deliveries exceeded Wall Street estimates, outpacing a global shortage of chips as production in China increased.
The stock gave the biggest boost to the S&P 500 and Nasdaq, followed by Apple and Nvidia. The bank index added 2.7%, with Goldman Sachs, JPMorgan, Morgan Stanley and Wells Fargo gaining from 1.8% to a 4.6%, following a jump in Treasury yields as investors expected a series of interest rate hikes from the Federal Reserve.
Meanwhile, the shares of the large oil companies Chevron and Exxon Mobil rose more than 1%, as crude prices rose due to the shortage of supply and the hopes of a greater recovery in demand in 2022.
Source From: Ambito
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