Chat of the week: Apple's market cap overtakes the US energy sector
Tech giant Apple, following a 70% share-price surge this year, has eclipsed the value of the entire US energy sector
A major market milestone has been reached on Wall Street. Tech giant Apple, following a 70% share-price surge this year, has eclipsed the value of the entire US energy sector, says Robin Wigglesworth on ft.com.
Oil prices have been hampered by signs of slowing global demand, while Apple has shrugged off fears that trade tensions would dent sales and profits thanks to a strong performance from its wearables division: Apple Watches and Airpods helped give revenue an unexpected fillip in the third quarter.
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Apple has regained its position as America's most valuable listed company from Microsoft, worth $1.16trn.
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