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Tech giants boost investor wealth in May
In May, there was a significant increase in the market value of major technology companies, collectively adding around $1.97 trillion. Apple, Micron Technology, Samsung Electronics, and SK Hynix led the gains amid positive earnings forecasts and ongoing demand for AI technologies and advanced chips. Apple’s valuation reached $4.58 trillion after an increase of $598 billion, while Micron’s value rose by $512 billion to $1.09 trillion. Samsung’s market cap grew by approximately $481 billion to $1.10 trillion, and SK Hynix's valuation increased by $377 billion to reach $1.34 trillion. Meanwhile, two other companies, Microsoft and Nvidia, experienced strong gains, with their market values rising by $315 billion and $276 billion, respectively. On the other hand, Alphabet's value declined by $59.8 billion, and companies like Walmart and JPMorgan Chase faced losses in their market capitalization.
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