Apple, Nvidia drive indexes to all-time highs, market thriving with tech giants' dominance.

From Forbes: 2024-07-10 14:11:29

Big technology stocks, including Apple, pushed major indexes to new highs today. Apple aims to become the first $4 trillion company while others like Microsoft and Nvidia are also thriving. The S&P 500 and Nasdaq hit new peaks, with the Dow Jones not far behind. The market continues to climb despite challenging economic conditions.

Apple, Microsoft, and Nvidia collectively hold a market value of $10.3 trillion—more than the GDP of Germany and Japan combined. Silicon chip maker Taiwan Semiconductor Manufacturing Company is nearing entry into the trillion-dollar club with a market cap of $991 billion. Tech giants’ dominance affects market performance.

Amidst record highs, Wall Street strategists didn’t anticipate the S&P reaching 5,600 this year, but it has exceeded expectations. The market is up 16% this year, erasing 2022 losses and surpassing 2023 gains. Despite economic challenges and high interest rates, major tech firms like Apple and Nvidia are driving the market’s success.



Read more at Forbes: Apple And Nvidia Stocks Boost S&P 500 And Nasdaq To All-Time Highs