- Business
Apple touches $ 2 trillion, Facebook burns Wall Street
Apple shares rose another 3.5 percent, boosting the company to $ 1.95 trillion. Facebook has launched Reels, Tiktok's Instagram equivalent, and its stock has jumped 6.5 percent
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Walla! Business
Friday, 07 August 2020, 00:24Just a week ago we talked about the hearings of the four tech giants in Congress, about the "grilling" they went through, but it seems like history and mostly acts like history - because they keep coming up. This is especially true for Apple and Facebook, which every day in their presence exposes us to new heights.
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Just another $ 5 billion for Tim Cook and Apple (Photo: Reuters)Apple shares closed the trading day with a 3.5 percent increase, thus completing an 18 percent increase from last Thursday, after which the reports that started the rally were released. Apple's value today stands at $ 1.95 trillion, and it lacks only $ 5 billion to become the first representative in the 2 trillion club.
Facebook also had a spectacular day. The launch of Reels, Instagram’s equivalent of ticketing, jumped the stock 6.5 percent to its record high, $ 265. With that, Facebook's value has risen to $ 750 billion and it seems to be the safest way to join the trillion club.
The most exciting after the trade is the Gropon share, which soared in the hours after closing by 35 percent following a report that exceeded analysts' expectations.