Tesla vs. Apple: Is Tesla's stock starting to emerge as Apple's biggest rival?
The shares of the biggest tech companies
in America have seen significant
declines thus far in 2022.
Tesla shares owned by Elon Musk are significantly cheaper than the priciest stock.
However, Tesla stock has behaved most similarly to Apple stock.
Tesla, a manufacturer of electric cars, has seen a nearly 22% decline in share price this year.
While Apple, a major IT corporation, has seen a 15% decline in share price this year.
Apple's polar opposite appears to only be Tesla Company.
Due to their respective market caps of $2.4 trillion and $863 billion,
Tesla and Apple
make up the majority of the market cap.
Because of this, these businesses profit from investments made into funds that follow the major indices.
Both businesses are also less reliant on the business cycle than other tech firms.
Tesla, owned by Elon Musk, is quickly overtaking all other electric vehicle manufacturers in the globe.
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