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Leading US tech companies reclaim trillions of caps for the first time since the coronavirus pandemic
Section:   en » IT-business      13 октября 2020  
Leading US tech companies reclaim trillions of caps for the first time since the coronavirus pandemic
 
The four largest U.S. tech companies regained trillions of capitalizations in July 2020 for the first time since the coronavirus began to spread. This shows the resilience of the industry in the face of a global pandemic, recession and record unemployment.

Who entered the "Trillion Club"

Google's parent company, Alphabet, was the last to enter the Trillion Club, hitting $ 1.02 trillion in capitalization during trading. Apple was valued at $ 1.63 trillion, followed by Microsoft at $ 1.61 trillion. Amazon, which benefited greatly from home orders during the pandemic, was valued at $ 1.48 trillion in trading.

Key indices of the New York Stock Exchange rose. One of the factors that influenced the sentiment of market participants were the hopes for an early development of a vaccine against coronavirus.

The Dow Jones index rose by 330.56 points (1.28%) - to the level of 26,151.38. The S&P 500 Index rose 40.27 points (1.29%) and was at around 3,170.50. The NASDAQ Composite tech index jumped 1.6% to an all-time high.

Some tech giants hit this milestone for the first time in late January and held their gains until February, before the pandemic caused markets to plummet.

It is worth recalling that the market recovery was led by shares designated by the abbreviation FAANG - Facebook, Amazon, Apple, Netflix, Google (although it is more correct to understand the parent holding Alphabet) and Microsoft. All of these companies that dominate the S&P 500 have already outperformed the index. Thanks to these metrics in relation to the broader market, the FAANG group of five plus Microsoft now accounts for more than 20% of the total market capitalization of the combined S&P 500. The Nasdaq Composite rose 0.3%, briefly exceeding 10,000 points for the first time. The S&P 500 fell about 0.8%.

There is evidence to support higher share prices for Amazon and Netflix and, to some extent, Microsoft, analysts at Synovus Trust said. All three companies have benefited to one degree or another from self-isolation due to the pandemic.

Largest market cap in 2020

Saudi Aramco was ranked among the top 100 companies in the world by market capitalization for the first time in 2020 and ranked first after the largest-ever IPO in December 2019. The market capitalization of the company is estimated at $ 1.602 billion.
 
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