New York Times (September 7)
“Shares in Apple, the world’s most valuable public company, continued to tumble on Thursday” amid reports of a China “ban on iPhones for government workers.” Apple looks poised “to lose $200 billion of market value, with shares falling about 6 percent over two days to roughly $175.” Ultimately, however, “the ripples will be felt more broadly: If one of the most successful operators in the world’s second-largest economy is at risk, can any Western company thrive there?”
Tags: $200 billion, Apple, Ban, China, Economy, Government workers, iPhones, Market value, Ripples, Risk, Shares, Successful, Thrive, Tumble, Valuable, Western company
Fortune (December 31)
“Tesla Inc. shares have fallen so far, so fast that some individual investors are piling in.” but the company still faces “mounting challenges” and remains expensive. “Even after this year’s record 65% drop, the electric-car maker’s meteoric surge during 2020 and 2021 has left it with stock-market value of $389 billion, more than Toyota Motor Corp., General Motors Co., Stellantis NV and Ford Motor Co. combined.”
Tags: $389 billion, Electric car, Expensive, Ford, GM, Individual investors, Market value, Mounting challenges, Stellantis, Stock, Surge, Tesla, Toyota
IR Magazine (November 11)
“It was a bad few weeks for tech companies with the Twitter and Meta layoffs, and then Amazon lost $1 tn in market value….For perspective, that’s almost like losing what Google’s parent Alphabet is worth, which is now around $1.13 tn. The loss makes Amazon the first public company ever to lose $1 tn.”
Tags: $1 tn, Alphabet, Amazon, Bad, Google, Layoffs, Loss, Market value, Meta, Tech companies, Twitter
Reuters (December 13)
Apple “rose about 11% last week, extending its more than 30% gain for the year as investors remain confident that flush consumers will continue to pay top dollar” for its products.” The company’s “market value hovered just shy of the $3 trillion mark on Monday, following a stunning run over the past decade that has turned it into the world’s most valuable company.”
Tags: $3 trillion, Apple, Confident, Consumers, Extending, Gain, Investors, Market value, Stunning
Wall Street Journal (July 11)
Spurred by Japan’s corporate governance reforms, Nintendo finally relented and committed to broadening its reach to mobile devices. Pokémon Go, one result of this decision, has boosted “the struggling Japanese firm’s market value by $7.5 billion—a turn of corporate fortune with lessons for Japan Inc. …. The fitness-conscious should like a video game that requires players to be active, and Nintendo’s long-suffering shareholders are glad that one of their products is breaking the internet. Here’s hoping other notoriously risk-averse Japanese corporations take the hint.”
Tags: Corporate governance, Japan, Japan Inc., Market value, Mobile, Nintendo, Pokémon Go, Risk-averse, Shareholders, Video game
Wall Street Journal (February 27)
“Tens of billions of dollars in U.S. market value have disappeared in recent years as more than 170 U.S.-listed Chinese companies have faced scrutiny for embezzlement, theft, misrepresentation and other alleged abuses.” Regrettably, the Securities and Exchange Commission (SEC) has caved-in on tighter inspections, deciding “not to suspend the Chinese audit firms or penalize them beyond token fines of $500,000.” As a result, U.S. investors “still lack basic protections against Chinese fraudsters” while Chinese authorities “remain as free as ever to stymie future investigations.” Furthermore, the SEC’s lack of spine increases “China’s rising confidence that it can play by its own rules.”
Tags: Abuses, Audit firms, Embezzlement, Inspections, Investors, Market value, Misrepresentation, Rules, SEC, Theft, U.S.-listed Chinese companies
