Apple's market valuation surged by $190.9 billion, sets stock-market record

US-based tech company Apple Inc. added $190.9 billion in overnight market value on November 10, the highest ever by a US-listed company. The Cupertino giant's market capitalization now stands at $2.34 trillion.

At the same time, the market cap of the other three tech giants soared to $2.306 trillion. Data from Yahoo Finance showed that Google parent Alphabet had a market cap of $1.126 trillion, Amazon's at $939.78 billion and Facebook parent Meta at $240.07 billion.

Last week, Apple's market cap rose more than Alphabet Inc. Amazon and Meta, with a market cap of $2.307 trillion.

Chief executive Tim Cook said last month that Apple saw strong double-digit revenue growth for the September-ended quarter in emerging markets like India. It said, Apple currently has a 37% market share in the premium smartphone market and 3% market share in the country's overall smartphone market.

It was told that the US stock market also rose on Thursday after the equity markets jumped after lower-than-expected inflation data.

The Labor Department said on Thursday that consumer inflation climbed to 7.7 percent in October from a year earlier and 0.4 percent from September.

The year-on-year gain in the CPI was the smallest since January. Excluding volatile food and energy prices, core inflation has risen by 6.3 percent over the past 12 months and 0.3 percent since September.

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