Apple is now a trillion dollar company



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Last Week’s Highlights

Apple reaches the trillion mark

Apple has reached another milestone. It became the first publicly traded company to reach a market value of $3 trillion. It reached a new high for its share price after briefly rising 3% to $182.88 per share. In 2021, demand for the iPhone 13 boomed tremendously, so the company’s stock rose nearly 35%. Despite being the first company to reach the three trillion mark, it is likely that we will soon see another company join this exclusive club. Microsoft, Alphabet, Amazon and Tesla are the companies that have been trying to reach these figures.

Hybrid electric cars hit sales record

Hybrid electric car sales reached a record high in the US. The automotive market is undergoing a process of change in which the sale of electric cars will soon stand out. However, people currently avoid buying an electric car mainly because of its high price and the lack of charging stations. For this reason, customers prefer to buy hybrid cars from Asian manufacturers. Last year, the percentage of sales rose by 76% to 801,550 vehicles sold. Within the US market, the Japanese car manufacturer, Toyota Motor Corp, had record sales of hybrid cars and surpassed companies such as General Motors.

Coming Up This Week

GameStop moving to crypto

GameStop, a videogames shop in the US, has a plan to enter crypto markets selling NFTs (non-fungible tokens). The company’s plan is to sell these tokens on the market and establish cryptocurrency partnerships. GameStop shares went up 27% following this discovery and also because of the renovation they’re having by moving from physical stores to e-commerce. This company has hired more than 20 people to develop an online hub where NFTs of various video games will be traded.

The uprising industry of digital health devices

Functions of digital watches are evolving to much more than telling time. Several news articles have cited cases in which people have been able to detect diseases and treat them in time thanks to their digital watch. Currently, Apple leads this market; however, competition is getting stronger because other companies such as Samsung, Garmin, or Alphabet are coming up with many innovations for their products. It is speculated that in upcoming years, these devices will be able to measure blood pressure, glucose levels and even track a Covid or other virus’ infection.

All information provided was collected up to the last business day of the previous week of the release of this NewsFlight. The purpose of NewsFlight is to summarize and make accessible information on a variety of topics within the world of investing and personal finance, and thus cannot be considered formal research or reports. All sources utilized to compile the NewsFlight newsletter are considered trustworthy by the FlexInvest team. FlexInvest is not affiliated with and does not receive remuneration from the news sources used to compile NewsFlight. As well, any images or logos incorporated into the NewsFlight newsletter are not necessarily property of FlexInvest and may solely be included to provide context for the news covered. NewsFlight should not be taken as advice to sell or buy securities or to make any investment. When investing in securities or other financial products, there is always the potential to lose money or asset value. FlexInvest recommends that its users consider their investment objectives and risks before investing. Additionally, any projections or analysis made by authors of NewsFlight cannot be considered as a promise of future trends or returns. Opinions expressed in NewsFlight are not representative of FlexInvest.

Market News

As the year has started, payrolls have not been what economists expected. Add to this the uncertainty of Bitcoin at its lowest level since September, the price of oil falling, and gold getting ready for its biggest weekly drop since November.

The Dow Jones index was down 0.26%, the S&P 500 0.65%, and the Nasdaq Composite 1.22%,

Wild Card

Rivian stock fell below IPO price.

More things to sip on...

Apple’s CEO earned almost $100m in 2021.
Bitcoin is near 3-month lows after US payrolls.

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