Plus $190.9 billion in a day - Apple set a new daily price rise record among U.S. companies, beating Amazon by $100 million

Apple was able to set a new daily price rise record among U.S. companies after the stock price rose nearly 9%.

Here's What We Know

Three major U.S. stock indexes closed on the plus side the day before. The Nasdaq, Dow and S&P 500 were up 7.34 percent, 3.69 percent and 5.53 percent, respectively. On the same day, Apple rose 8.9% to $146.87 a share, and its market capitalization soared to a historic $190.9 billion. Earlier, a record-breaking $190.8 billion price increase belonged to Amazon, the giant of digital commerce.

The reason for the growth of the stock market was the new data on inflation in the United States in October 2022, which were lower than expected. The consumer price index rose by 0.4% month-on-month and by 7.7% year-on-year.

Apple's market capitalization was $2.34 trillion after the stock rallied, but it was down 17% from a year ago.

Source: RPRNA