#stock-surge

#stock-surge

The Alphabet cofounders have respectively grown $66 billion and $60.7 billion richer in just under 10 months, outpacing Meta CEO Mark Zuckerberg's $56.8 billion gain and Nvidia CEO Jensen Huang's $51.9 billion gain. The pair only trail Oracle cofounder Larry Ellison's $150 billion increase. Page and Brin are now worth $234 billion and $219 billion each, ranking them fifth and sixth on Bloomberg's rich list - not far behind Amazon founder Jeff Bezos in fourth with a $250 billion fortune.

On October 20, Apple shares ( NASDAQ: AAPL) surged to more than $264 apiece, topping out their last peak at $258.10 in December 2024. As of this writing, the company is trading up 8% since the start of the year and more than 11% year-over-year. The spike appears to be a reaction to a study published today by the technology market research firm Counterpoint.

Lisa Su, the CEO of Advanced Micro Devices, has built one of the world's most valuable companies and made investors billions- but is barely a billionaire herself. She has delivered a 70-fold increase in her company's stock price during her 11 years in charge, including a 41% surge this week to fresh highs thanks to its OpenAI partnership. The chipmaker's market value has soared to $378 billion, surpassing Home Depot, Bank of America, and Procter & Gamble.

The company's solid quarter can be largely attributed to its turnaround efforts and major cost cutting measures, including store closures and workforce reductions. Earlier this year, the department store closed 27 stores across the country, and saw a 10% reduction of its corporate workforce. The company's turnaround efforts include a reassessment of its assortment of products, as well as introducing more coupons for branded items.

The Trump administration is exploring a potential equity stake in Intel, which could reshape U.S. semiconductor policy and sparked a 7% rise in INTC stock.