Microsoft and Apple are worth more than the financial services industry

Posted: Aug 25, 2020 / 07:21 AM CDT / Updated: Aug 25, 2020 / 06:50 AM CDT

FILE – In this June 16, 2020 file photo, the sun is reflected on Apple’s Fifth Avenue store in New York. Apple is the first U.S. company to boast a market value of $2 trillion, just two years after it became the first to reach $1 trillion. Apple shares have gained nearly 60% this year as the company overcame the shutdown of factories in China that produce the iPhone and the closure of its retail sales amid the coronavirus pandemic. (AP Photo/Mark Lennihan, File)

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Paul Nolte, Senior VP at Kingsview Wealth Management, discusses a market update with Bob Sirott. Nolte says the tech industry needs to take a break. Right now, Microsoft and Apple are now worth more than the financial services industry. Nolte says that many markets rose last week, but stocks were down. He also discusses the impact of COVID-19 on the market.