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Amazon, Apple, Facebook and Microsoft hit all-time highs, with combined market value of about $5 trillion

Apple, Amazon, and Facebook, all gained more than 3% yesterday, while Microsoft finished slightly higher at about 0.8%, despite COVID-19 induced lockdowns. 

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Amazon, Apple, Facebook and Microsoft hit all-time highs, with combined market value of about $5 trillion

Stock traders, pension funds, global investors, and asset managers had a lot to laugh about as Amazon, Apple, Facebook and Microsoft closed at all-time highs yesterday, a day when the Nasdaq Composite Index also broke its trading record numbers.

Amazon, Apple, Facebook, and Microsoft have performed better than most businesses during the COVID-19 pandemic, as individuals and businesses have moved to the cloud and remote services; thanks to their massive market capitalization, which helped them to withstand the huge sell-offs recorded months ago.

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The big tech firms staged a record-breaking comeback, despite huge unemployment numbers recorded around the world, which were sparked by COVID-19 induced lockdowns.

Apple, Amazon, and Facebook, all gained more than 3% yesterday, while Microsoft finished slightly higher at about 0.8%. The tech-heavy Nasdaq Composite also gained about 0.3%, touching the 10,000 points for the first time ever.

READ MORE:Facebook launches new messaging app called ‘Tuned’, just for couples

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Consequently, the combined market worth for Amazon, Apple, Facebook, and Microsoft is now close to $5 trillion, with Apple claiming the first position at nearly $1.5 trillion. Facebook is the only one in the big four with a market value below $1 trillion.

Facebook widens anti-fake news project to 10 more African countries, Facebook just changed its logo, here’s why , Facebook launches new payment platform, Facebook Pay, Startups in Facebook Accelerator Programme raise $500,000 , Facebook to pay $550 million to settle privacy violations lawsuit , Facebook builds a gaming app, Facebook is building high speed internet connectivity to Nigeria, Facebook Takes on Zoom with its New Video Chat Feature, Amazon, Apple, Facebook and Microsoft hit all-time highs, with combined market value of about $5 trillion

However, popular tech juggernaut Google’s parent-company, Alphabet, is the only one among the largest technology stocks not finishing at an all-time high. It’s still about 5% short to hit its all-time high of $1,524.87.

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The macro fundamentals coming out from last week’s impressive U.S job numbers helped to trigger the rally.

“Recent data points like the jobs report and not-as-bad-as-feared company updates have fueled the view that the worst of the declines could be behind us,” a team of RBC Capital Markets analysts told clients Monday. “The risk-on trade really is gaining traction. Valuations have spiked to historical highs in many industrial sub-sectors, signaling a strong recovery is potentially taking hold.”

 

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Patricia

Olumide Adesina is a French-born Nigerian. He is a Certified Investment Trader, with more than 15 years of working expertise in Investment Trading. A member of the Chartered Financial Analyst Society. Financial Market; Yale University, Behavioral Finance; Duke University. You can follow Olumide on twitter @tokunboadesina or email [email protected]

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Cryptocurrency

Crypto; Tron’s founder offers $1 million bounty in finding BTC Twitter hackers

The Giveaway scammers pulled off the hack of the year, but only managed to make $58,000 USD.

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Following a huge amount of breaches on many top global brands, having their Twitter accounts tweeting about a BTC giveaway, Tron founder, Justin Sun has put a bounty on those responsible for the attacks.

In a recent interview with Cointelegraph, Tron’s founder, Justin Sun disclosed he was ready to give $1 million to the person or persons responsible for tracking down the hackers. He added by saying;

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“We are working closely with Twitter to resolve this issue immediately and return our accounts to normal. We are always vigilant in the handling of our accounts; operating safely and responsibly — taking the security of our accounts to the highest standards possible. This only further illuminates the urgent need for our society to adopt decentralized, trustless software and services.”

Quick fact, Justin Sun is a Chinese tech entrepreneur, the founder of a renowned crypto-asset, Tron and the present leader, BitTorrent. Sun became very popular after placing a record-breaking $4.5 million bid to have a private lunch with Warren Buffet in June 2019.

READ MORE: CBN insists on no devaluation, threatens to sanction those responsible for false speculations

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Meanwhile, data obtained from Whale alert, an advanced crypto tracker firm revealed, “the Giveaway scammers pulled off the hack of the year, but only managed to make $58,000 USD so far. Hopefully, the community will take them more seriously now.”

However, dealing with cryptos, the use of cold wallets or a proprietary smartphone is recommended. These are specifically designed tools to keep your BTCs from falling into the hands of hackers on the internet.

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Cryptocurrency

BTC scammers breach Twitter accounts of Bill Gates, Obama, Google, Apple, Uber

A number of celebrities and important personalities had their Twitter accounts breached.

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BTC scammers were on a rampage on Twitter late Wednesday, as many top personalities, had their accounts tweeting about a BTC giveaway. Later, it became obvious that the breach was much more serious when leading brands and famous people including, Barack Obama, Elon Musk, Jeff Bezos, Kanye West, and Uber, tweeted that they would double your bitcoin.

However, Cameron Winklevoss, co-founder of the world’s leading crypto exchange Gemini, disclosed that the scammers were only able to make away with “a paltry sum,” though he wondered if there were underlying reasons for the attack.

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READ ALSO: ChainLink’s digital coin skyrockets 388% in 130 days, still soaring

Recall that a few days ago, Nairametrics reported how crypto scammers gained about $24 million worth of BTCs in the first six months of 2020.

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As the COVID-19 pandemic kept a lot of individuals more active online, fraudsters have pulled dozens of different types of scams such as fake ICOs, BTC recovery, fake exchanges, giveaways, video scams, fake tumblers, Ponzi schemes, malware and many more.

READ ALSO: BTC outperforms precious metals in H1 2020

The scammers deceive their intended victims by offering one or all of the following: no taxes, high profits, little effort, and no risk. It’s thus projected by Whale alert that these fraudsters could gain about $50 million dollars before the end of 2020.

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Crypto-Scammers stole $24 million worth of BTCs in 2020  

Twitter CEO, Jack Dorsey, finally tweeted:

Tough day for us at Twitter. We all feel terrible this happened. We’re diagnosing and will share everything we can when we have a more complete understanding of exactly what happened.”

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Meanwhile, the price of bitcoin remains largely unaffected by the news of the hack, as it is currently still stuck at around $9,200.

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Tech News

Gokada writes emotional farewell to their murdered CEO

Fahim Saleh was murdered in his New York City luxury apartment by a killer yet to be identified.

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Gokada said in a statement earlier today that all its staff members are saddened about the very tragic and sudden death of the company’s founder and Chief Executive Officer, Fahim Saleh.

The brief statement, which was issued via the company’s official Twitter handle, also described Fahim as a great leader who was a positive light and a source of inspiration to everyone at Gokada.

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The way forward: The statement further noted that while Fahim Saleh will be missed forever, the rest of the Gokada team and management will ensure that his vision lives on. To this end, changes to the company’s management will be communicated in due course.

READ ALSO: Here are reasons Lagos may not reverse Okada ban

“We are deeply saddened to inform you about the sudden and tragic loss of our founder and CEO, Fahim Saleh. Fahim was a great leader, inspiration and positive light for all of us. Our hearts go out to his friends, family and all those feeling the pain and heartbreak we are currently experiencing, here at Gokada.

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“Fahim’s vision and belief in us will be with us forever, and we will miss him dearly. Thank you for understanding as we get through this. All updates and changes will be communicated with you, as it unfolds. Forever in our hearts,” the statement said.

The backstory: Fahim Saleh, whose decapitated and dismembered body was found by his sister in his New York City apartment, yesterday, came to Nigeria with an innovative idea that transformed the motorcycle transportation business in Africa’s biggest city.

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READ MORE: Greek Debt Crisis and the sudden rise in Nigerian Stock Market All Share Index!!

Founded in 2018, Gokada was adjudged one of the most innovative startups in the country, even as it raised millions of dollars in funding. Fortunately or unfortunately, the venture’s plan was forced to change earlier this year when the Lagos State Government issued a directive banning commercial motorcycle in major parts of the Lagos Metropolitan area.


An earlier report by Nairametrics about Saleh’s murder detailed how CCTV cameras showed his alleged killer following him into his apartment. The two struggled at some point, as Saleh apparently tried to wrestle with his assailant. Investigators now believe that the killer left the building through a service entrance, after killing and decapitating then dismembering the techpreneur with an electric saw which was later found at the scene of the crime.

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Note that Saleh’s sister had gone to the apartment to check on him because she had tried abortively to contact him after one whole day.

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