Apple Hits $3T Again, Nike Disappoints, Micron Drops, Biden’s Internet Plan

The logo of the American S&P 500 Index can be seen on the monitor of a computer in an office.The S&P 500 and other major market indexes were ending the week on a high note Friday as the second quarter and first half of 2023 drew to a close. Markets responded well to the latest news on inflation, as Friday's core Personal Consumption Expenditure price index data for May showed that inflation rose 4.6% year-over-year, below economist estimates of 4.7%.PHOTO BY SILAS STEIN/GETTY IMAGES

On Friday, Apple (NASDAQ:AAPL) crossed the $3-trillion market cap for the second time in its history. Apple was the first U.S. company to surpass the $3-trillion mark in 2022, although it stayed at the high valuation for less than one trading session. Apple maintained the valuation Friday, closing at a $3.05-trillion market cap.

Nike (NYSE:NKE) shares fell abruptly on Thursday after hours as the company’s fourth-quarter earnings missed estimates on earning per share by 1 cent. Nike posted overall strong results with $12.82 billion in revenue, up 10% year-over-year.