By Jon Swartz
Trio of Big Tech companies valued collectively at more than $6 trillion despite wave of antitrust actions across the globe and more expected
For the third time this year, shares of Apple Inc., Google parent Alphabet Inc., and Microsoft Corp. closed at record highs on the same day, underscoring their continued success despite a wave of Big Tech antitrust efforts.
Google (GOOGL) closed at $2,546.83, up a tick, while Microsoft (MSFT) improved 1% to $280.98 and Apple (AAPL) rose nearly 1% to $145.48. All three stocks are up at least 10% so far this year.
Microsoft, Apple, and Google last closed at records together on July 7 and Jan. 26, according to data from Dow Jones Market Data. Their current collective market value is north of $6 trillion.
The trio of companies, as well as Amazon.com Inc. (AMZN), also hit intraday highs Tuesday. The last time this happened was Sept. 2, 2020; before that, July 25, 2018, according to Dow Jones Market Data.
The vitality of Big Tech stocks is all the more remarkable as the White House, Congress, and federal agencies attempt to decelerate their expanding economic powers through an executive order, raft of antitrust bills, investigations, and lawsuits to level the competitive playing field.
For more: Google is in the hottest antitrust seat, but Apple and the rest of Big Tech shouldn't breathe easy ()
On Friday, President Joe Biden signed a nonbinding executive order to rein in megamergers and spur innovation (). The Democratic-controlled Congress is working on six bills that would radically reshape antitrust law ( ).
Meanwhile, the Justice Department and Federal Trade Commission press on with investigations of Apple, Amazon, Google, and Facebook Inc. (FB).
-Jon Swartz; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
July 13, 2021 16:14 ET (20:14 GMT)
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