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Amazon, Apple, Facebook and Microsoft closed at new all-time highs Tuesday, a day when the Nasdaq Composite Index hit a new record. Big Tech stocks have fared better than most during the coronavirus pandemic as newly remote workers have had come to rely more than ever on online services. Thanks to their large market caps, they’ve also helped buoy the stock market, which has staged a comeback despite huge unemployment numbers sparked by widespread stay-at-home orders. Facebook, Apple and Amazon all rose more than 3% Tuesday while Microsoft popped about 0.8%. The tech-heavy Nasdaq Composite rose 0.3%, briefly rising above 10,000 for the first time. The S&P 500 was down about 0.8%. The combined market value of the four companies is now close to $5 trillion, with Apple claiming the top spot at nearly $1.5 trillion. Facebook is the only one of the group with a market cap below $1 trillion. Google parent-company is Alphabet the only one of the five largest tech stocks not to close at an all-time high. It’s still about 5% behind its all-time high of $1,524.87, where it closed on Feb. 19. The post Amazon, Apple, Facebook and Microsoft close at all-time highs as Big Tech rallies back from coronavirus appeared first on Data Science PR. Via https://datasciencepr.com/amazon-apple-facebook-and-microsoft-close-at-all-time-highs-as-big-tech-rallies-back-from-coronavirus/?utm_source=rss&utm_medium=rss&utm_campaign=amazon-apple-facebook-and-microsoft-close-at-all-time-highs-as-big-tech-rallies-back-from-coronavirus |
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