๐ Tesla and Apple Shares Surge to Record Highs
What you need to know before the US markets open ๐บ๐ธ

Heyย Global Investor, here's what you need to know before the US markets open.
Market Snapshot ๐
S&P 500ย (Friday Close) 3,397.16ย +11.65ย (0.34%)
NASDAQย (Friday Close) 11,311.80ย +46.85ย (0.42%)
FTSE 100ย (5 PM IST) 6116.23ย +114.34 (+1.90%)
NIFTY 50ย (Today's Close) 11,466.45ย +94.85ย (0.83%)
USDINRย (5 PM IST) 74.13ย (1 Year +4.77%)
Tesla and Apple Shares Surge to Record Highs as Both Companies Prepare for Stock Split
Shares of Tesla and Apple rallied on Friday toย record highsย ahead of the stock split that will be effective after the end of trading on August 28th.
What Happened?ย Share prices of Tesla and Apple continued their upward trajectory and notched up record highs amid heightened investor excitement. Shares of the two companies rallied on Friday, ahead of the stock split.
Apple and Tesla have announcedย 4-for-1 and 5-for-1 stock splits respectively, and split-adjusted shares will start trading from August 31. Teslaโs stockholder record date โ the date when the company decides which shareholders will receive additional shares due to the split โ was on Friday, August 21st. Appleโs is today after market close.
As of Friday afternoon, Appleโs shares gained 27%, and Teslaโs rose 52% since the stock split was announced.
Appleโs market cap recently crossed the coveted $2T mark, following a blockbuster Q3. The companyโs revenue was up 11% Y-o-Y, and EPS rose 18%. On the other hand, Tesla shares are up 27% for last week and 380% YTD. This is Appleโs fifth stock split in its history, and Teslaโs first.
Market Reaction:ย Tesla closed at $2049.98, a record high. Similarly, Apple closed at a record high of $497.48.
Apple and Tesla Snapshot ๐
AAPL $497.48 +24.38 (+5.15%)
TSLA $2,049.98 +48.15 (+2.41%)
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