By Devik Jain and Shashank Nayar
(Reuters) – The S&P 500 and Nasdaq indexes returned to record highs this Friday, boosted by Microsoft, which surpassed Apple Inc as the world’s most valuable company after the iPhone maker reported disappointing quarterly revenue amid the impact of supply chain disruptions.
Wall Street tech titans Alphabet Inc (parent company of Google), Meta Platforms (Facebook Inc) and Tesla Inc were up between 1.2% and 2.3%, while Microsoft Corp gained 1.3%, giving the biggest boost for the three main indexes.
Microsoft shares hit a record and brought the company’s market value to $2.46 trillion, up from Apple’s $2.45 trillion.
Markets earlier felt a 2.2% drop in Apple’s shares after the company warned that the impact of supply chain disruptions will be even worse during the current quarter of the year-end sales season. The day before, the shares rose 2.5%.
At 3:03 pm (GMT), the Dow Jones rose 0.15%, to 35,785.03 points. The Standard & Poor’s 500 had a positive variation of 0.03%, at 4,597.91 points. And the Nasdaq showed positive oscillation of 0.02%, at 15,451.65 points.
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source https://pledgetimes.com/microsoft-boosts-sp-500-and-nasdaq-to-new-records-istoe-money/
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