Now there are three American megacaps back in the over $3 trillion club on Wall Street, thanks to last week’s rebound, particularly in Nvidia shares.
Apple leads with its value up 4.6% to $3.44 trillion. Microsoft has recovered, moving away from the edge of the $3 trillion mark to end the week up 2.8% at $3.11 trillion.
However, the standout was Nvidia, with its shares up 17.2% over the week, boosting its value to $3.06 trillion.
Next week, on the 28th, Nvidia’s results will be a crucial test for the demand for these seven stocks, as well as for the tech-heavy Nasdaq.
The other four members of the Magnificent Seven had good weeks, except for Alphabet, following the ‘monopolist’ ruling from a US federal court.
Alphabet shares ended the week down 0.99%, though this was partially offset by a similar-sized rise on Friday. Its value eased to $2.02 trillion.
Amazon shares rose 5.3% to $1.8 trillion, and Meta shares were up 2% at $1.33 trillion.
Tesla shares finished with a value of $672 billion, up more than 8% for the week.
Berkshire Hathaway shares rose solidly last week, up 2.45% to $952 billion. After its strong profit and sales performance in the latest quarter, Walmart shares jumped 7.6% to a value of $590 billion.
Walmart shares are up 38% so far this year, significantly outperforming the S&P 500’s 17% gain. This is surprising given that investors have been cautious about retailers and companies associated with consumer spending for much of the year.