Apple worth $1 trillion more since COVID-19 crashed the NASDAQ 100

There’s no doubt that tech’s biggest companies have bounced hard since COVID-19 laid waste to global stock markets, but none have bounced quite as spectacularly as Tesla.

Still, even after removing Tesla as an outlier, a dozen companies in the tech-heavy NASDAQ 100 (NDX) have seen their share prices more than double since the index’s 2020 low on March 23.

[Read: Tesla and Apple set stock splits to lower share prices — then they rallied]

That list includes the “Argentinian Alibaba” Mercadolibre, up an eye-twitching 166% since the NDX’s COVID crash, and fintech giant PayPal, which has bounced from $85.26 all the way to $198.18 in just five months.

Not quite as big as Tesla‘s 360% recovery, but still remarkable.

nasdaq, stock, index, tesla, apple

Chipset prince NVIDIA, online market lord eBay, orthodontic play Align Technology, and activewear incumbent Lululemon all staged remarkable comebacks too, up 128%, 118%, 115%, and 112% respectively.

The only plausible explanation for the latter pair being the importance of looking good for Insta during lockdown.

As it turns out, they all bounced harder than Apple. The maker of the iPhone has only managed a disrespectful 111% since NDX’s lowest point this year, but nonetheless contributed to sending the NDX to record highs this year, despite… global chaos.

But in terms of market values, no NDX company has added more dollars to their capitalizations than the Cupertino giant.

Apple was worth $959 million on March 23, and now it’s worth more than $2 trillion  the largest company in the US, tech or otherwise.

This means Apple‘s COVID-19 bounce is now valued in excess of $1 trillion.

[Read: Watch Apple’s market cap hit $2 trillion in this NASDAQ bar chart race]

But again, it’s Tesla that stands out. The visualization above shows the value added to each NDX constituent since March 23  the bigger the bubble, the more value added since the bottom.

Check out Elon Musk’s electric vehicle wunderstock: Tesla added $169.5 billion to its market value post-COVID, and sits prominently amongst Alphabet, Facebook, NetEase, NVIDIA, and PayPal.

(NB: If the visualization doesn’t show, try reloading this page in your browser’s “Desktop Mode.”)

Hard Fork found just two NDX companies yet to recover from March 23’s COVID crash: pharma stocks Gilead and Walgreen Boots Alliance, respectively down 4% and 8% since their individual lows on that day.

In any case, the NDX overall is up 30% for the year.

What’s the opposite of a dead cat bounce?

Published August 21, 2020 — 16:07 UTC

About the author

E-Crypto News was developed to assist all cryptocurrency investors in developing profitable cryptocurrency portfolios through the provision of timely and much-needed information. Investments in cryptocurrency require a level of detail, sensitivity, and accuracy that isn’t required in any other market and as such, we’ve developed our databases to help fill in information gaps.

Related Posts

E-Crypto News Executive Interviews

Crypto Scams

Cryptosoft Trading Bot Review
June 27, 2022
The Largest Crypto Scams Of 2022 (So Far)
The Largest Crypto Scams Of 2022 (So Far)
June 14, 2022
How Do Scammers Entice Their Prey?
May 10, 2022
Beanstalk Farms Loses $80M In A Massive DeFi Governance Flash-Loan Hack
Beanstalk Farms Loses $80M In A Massive DeFi Governance Flash-Loan Hack
April 23, 2022
Joon Pak Head of Crypto at Prove talks to Us about Crypto Fraud And More
April 11, 2022

Automated trading with HaasBot Crypto Trading Bots

Blockchain/Cryptocurrency Questions and Answers

Roundtable Interview-What is the Effect of The Russia-Ukraine War on Cryptocurrency Prices?
March 4, 2022
How Does Bitcoin Casino Work + 2021 Beginner’s Guide
November 8, 2021
How to Buy and Sell Cryptocurrency
November 8, 2021
What Are Bitcoin Futures And How Will They Work In 2022?
November 4, 2021
The Unconventional Guide to Ethereum
October 28, 2021

CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin20,762 0.23 % 3.01 % 1.19 %
Ethereum1,188.3 0.18 % 3.49 % 5.55 %
Tether1.000 0.08 % 0.10 % 0.03 %
USD Coin1.000 0.16 % 0.07 % 0.30 %
BNB233.97 0.12 % 2.55 % 8.94 %
Binance USD1.002 0.17 % 0.04 % 0.04 %
XRP0.3536 0.32 % 3.98 % 8.57 %
Cardano0.4891 0.97 % 4.44 % 1.09 %
Solana38.52 1.03 % 5.81 % 12.65 %
Dogecoin0.07144 1.42 % 3.65 % 17.97 %

Bitcoin (BTC) $ 20,727.00
Ethereum (ETH) $ 1,185.65
Tether (USDT) $ 1.00
USD Coin (USDC) $ 1.00
BNB (BNB) $ 233.85
Binance USD (BUSD) $ 1.00
XRP (XRP) $ 0.353228
Cardano (ADA) $ 0.491012
Solana (SOL) $ 38.48
Dogecoin (DOGE) $ 0.071345