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Apple didn't budge off its all-time highs while the rest of tech tanked

Key Points
  • The S&P tech sector ended trading 1.6 percent lower.
  • Shares of Apple lost just a fraction of 1 percent during the session
  • Google parent Alphabet also weathered the sell-off.
Apple CEO Tim Cook.
Getty Images

Apple withstood the tech plunge Thursday, holding tight to its all-time highs even as Facebook dragged the sector lower.

Shares of Apple lost just a fraction of 1 percent during the session. Earlier in the day, the stock reached a new high of $195.96.

Meanwhile, Facebook suffered its worst day ever after its second-quarter earnings report. Amazon, which reports earnings after the bell Thursday, lost almost 3 percent during the session. Twitter fell 3 percent after a shot from President Donald Trump, and Microsoft fell roughly 1 percent.

The S&P tech sector ended trading 1.6 percent lower.

Google parent Alphabet also weathered the sell-off. Shares gained 0.75 percent Thursday.

Apple reports its quarterly earnings next week, as it nudges closer to $1 trillion market value. The stock is up 15 percent on the year and more than 25 percent in the last 12 months.

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Key Points
  • Wall Street expects another strong earnings from Amazon, with its profits jumping nearly six-fold from the same period of last year.
  • Amazon's profit expansion is largely driven by the growth in its high-margin businesses, like cloud and advertising.
  • A strong earnings could make Amazon the world's first $1 trillion company.