While Coronavirus has crumbled a large number of businesses worldwide, it has failed to affect the tech giants. Based upon stock performance it seems to be the truth. Apple (AAPL) and Microsoft (MSFT) which initially saw some decline in stock performance seem to be climbing fast again. However, Apple which had been trailing Microsoft for the past few weeks has jumped ahead of its rival. Its market cap on 02 June 2020 reached 1.39 trillion while Microsoft’s is at 1.38 trillion, just behind Apple.
The reopening of US States has successfully mitigated the impact of the growing tension in the US-China relationships and its impact on the industry. On June 01, Apple had the most positive impact on both SPY and NASDAQ, CNBC reported.