Share Prices of World Tech Giants At An All-Time High

Advertisment

Today, the share prices of global tech companies such as Google and Facebook are at an all-time high, pushed on by a small bounce for Apple following its developer conference and the news that Netflix and Twitter will be added to the S&P 500 index.

Powerful gains among tech heavyweights boosted the Nasdaq to a record intra-day high, as Facebook, Apple, Amazon, Netflix and Google, the so-called FAANG stocks, improved between 0.3 percent and 1.9 percent, in turn boosting the S&P technology index by 0.3 percent as a whole.

Last Monday, the Nasdaq also closed at a record high despite a generally cautious investor stance before the trade discussions at the G-7 Summit that is scheduled to be held this weekend in Quebec City.

Baidu, Alibaba, Tencent, Taiwan Semiconductor and Samsung, the so-called BAATS stocks of Asia, have also improved, with Alibaba achieving a new high and the share price of Baidu increasing by 5 percent.

In Europe, the Stoxx 600 technology index grew 2.01 percent at 485.16 points as the closing bell rang. It is considered to be its highest since June 2001. This was raised by advances for ASM International, a Dutch manufacturing firm, which was up by 8.84 percent, AMS, the Apple supplier, up by 4.8 percent, and Infineon Technologies, at chipmaker, up by 2.57 percent.

The share price increase of Twitter was powered by a statement that was made by the S&P Dow Jones Indices late last night, which disclosed that Twitter will be taking the place of Monsanto on the S&P 500 index on the 7th of June.

The social media website reported its second consecutive quarterly profit in April, with the analysts interpreting the results as a positive sign of progress following the struggle of the social media giant after its flotation in 2013.

Netflix is also set to take the place of Monsanto on the S&P 100 index, which witnessed its shares increase by 0.2 percent after the markets closed in New York last night.

Meanwhile, this morning, Apple opened on Wall Street at a record high following a bump in its share prices. It was boosted by the positive reaction to its software announcements from the Worldwide Developers Conference that was held last Monday.