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For the third time this year, shares of Apple Inc., parent company Google Alphabet Inc. and Microsoft Corp. closed at record highs the same day, underscoring their continued success despite a wave of antitrust efforts from Big Tech.
Google GOOGL,
closed at $ 2,546.83, up one tick, while Microsoft MSFT,
improved by 1% to $ 280.98 and Apple AAPL,
rose nearly 1% to $ 145.48. All three stocks are up 10% or more since the start of the year.
Microsoft, Apple and Google last closed together on July 7 and January 26, according to data from Dow Jones Market Data. Their current collective market value is north of $ 6 trillion.
The trio of companies, along with Amazon.com Inc. AMZN,
also hit intraday highs on Tuesday. The last time this happened was September 2, 2020; prior to that, July 25, 2018, according to Dow Jones Market Data.
The vitality of Big Tech stocks is all the more remarkable as the White House, Congress and federal agencies attempt to slow their expanding economic powers through an executive order, a series of antitrust bills, d ‘investigations and prosecutions to level the playing field.
Read more: Google is in the hottest antitrust seat, but Apple and the rest of Big Tech shouldn’t breathe easy
President Joe Biden signed a non-binding executive order on Friday to curb mega-mergers and spur innovation. Democrat-controlled Congress is working on six bills that would drastically change antitrust law.
Meanwhile, the Department of Justice and the Federal Trade Commission are continuing their investigations into Apple, Amazon, Google and Facebook Inc. FB,
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