Graphic: Tech giants lead surge in global mega-caps as inflation eases

Panasonic Holdings

01/12/2023 09:40

Dec 1 (Reuters) - Market capitalisations of global
mega-cap companies, led by prominent technology firms, surged in
November, buoyed by a decline in U.S. yields and growing
anticipation of potential rate cuts by global central banks amid
diminishing worries about inflation.
    Apple Inc's  AAPL.O  market value jumped 11.2% to $2.95
trillion over the past month, while Microsoft Corp (MSFT.O) saw
a 12.1% increase in its market cap, reaching $2.8 trillion.
    Nvidia Corp's  NVDA.O  market cap soared 14.7% to $1.15
trillion, following its announcement of a 206% year-over-year
revenue increase to $18.1 billion in the third quarter. The firm
also projected higher-than-expected revenue for the fiscal
fourth quarter, citing improved supply chain conditions and
robust demand for its AI chips.
    Easing inflation concerns also gave a big boost to banking
stocks. JPMorgan Chase & Co  JPM.N  saw its market cap increase
by 12.2% to $451 billion by the end of November.
    In other sectors, Tesla Inc's  TSLA.O  market value rose
nearly 20% to $763.2 billion last month, following a price hike
for its Model 3 and Y vehicles in China. Despite the cessation
of subsidies, China recorded a surge in electric vehicle sales
in October, according to market research firm Rho Motion.
    Conversely, a decline in oil prices led to a drop in the
market capitalisations of major oil firms. Saudi Arabian Oil Co
 2222.SE  and Exxon Mobil Corp  XOM.N  saw market caps fall by
0.3% and 2.9%, respectively.


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Top 20 companies in the world by market cap     https://tmsnrt.rs/3OAhlz8
Change in market cap in November Change in market cap in
November    https://tmsnrt.rs/47cjbgK
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 (Reporting By Patturaja  Murugaboopathy and Gaurav Dogra in
Bengaluru; Editing by Kim Coghill)
 ((patturaja.muruga@thomsonreuters.com;))