Microsoft, Apple and Google stock all closed at record highs

MUNICH, GERMANY – SEPTEMBER 29: Tim Cook, CEO Apple, during the Oktoberfest 2019 at Kaeferschaenke beer tent.Gisela Schober | German Select | Getty ImagesThe broad stock market rally that’s lifted U.S. indexes to record highs has been very good to Big Tech.Microsoft, Apple and Google parent Alphabet all closed at all-time highs on Friday, as investors continue to brush aside fears of a trade war and economic slowdown, focusing instead on the companies’ financials and dominance in their respective markets.All three tech giants reported better-than-expected revenue in their latest earnings report last month, and Microsoft and Apple also beat estimates on profit.¬†On Friday, Microsoft gained 1.2%, Apple inched up 0.3%, and Alphabet rose 0.2%.Apple has climbed in seven of the past eight trading days and reached a market cap of $1.16 trillion, making the iPhone manufacturer the world’s most valuable publicly-traded company, just ahead of Microsoft at $1.11 trillion. Apple’s stock is up 65% in 2019 and Microsoft has gained 44%, both trouncing the S&P 500, which has climbed 23%.Alphabet has performed only slightly better than S&P 500 for the year, gaining 25% in 2019. But the company had the best week among the Big Tech crew, with the stock rising 2.9%. It’s notched gains in five of the past six trading days, making the company’s close on Thursday its highest since April.The three companies combined now account for about 12% of the value of the S&P 500.The stock market has been riding a wave of optimism regarding trade negotiations with China that’s propelled the Nasdaq Composite to six straight weekly gains and the S&P 500 to five consecutive positive weeks. The other two mega-cap tech companies are still off their record highs reached last year. Amazon has dropped 12% from its highest close in September 2018, and Facebook is 12% off its record close from two months prior.WATCH: How Apple CEO Tim Cook won over Trump amid a trade war

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