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JSE Top 40
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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.