Nvidia's shares surged last month, boosted by its quarterly revenue forecast, which exceeded analyst expectations as the artificial intelligence boom fuels demand for its chips. The market capitalization of Apple and Microsoft Corp's shares declined 4.4% and 2.4%, respectively, while Meta Platforms Inc's shares fell 7.1%. Meanwhile, Berkshire Hathaway's market cap rose over 2% last month, as its shares touched a record high after the company's quarterly operating profit topped $10 billion for the first time.
Analysts are raising earnings estimates for Asian companies for the first time in four months as easing price pressures boost consumption while receding fears of a recession in developed markets is expected to help to lift export revenues. Equity analysts have upgraded Asian companies' forward 12-month net profits by 2.3% over the past month, based on Refintiv data. "The Asian profit picture is improving slowly but surely," said Manishi Raychaudhuri, Asia-Pacific head of equity research at BNP Paribas.
Apple, Microsoft remain world's top 2 companies by market cap | Hellenic Shipping News Worldwide hellenicshippingnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hellenicshippingnews.com Daily Mail and Mail on Sunday newspapers.
Apple last month became the first company in the world to reach a market value of $3 trillion, buoyed by hopes over its expansion in new markets and expectations for more moderate U.S. interest rate hikes.
Emerging Market Equity Fund Inflows Outpace Developed Market Rivals usnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from usnews.com Daily Mail and Mail on Sunday newspapers.