US tech stocks currently worth $9 trillion

[TheComputerGroup]

U.S. tech stocks are now worth collectively more than $9 trillion, as Forbes first reported Thursday, citing a new report from Bank of America Global Research.

That figure exceeds Europe's entire $8.9 trillion stock market: For reference, Europe's market cap was four times the size of the U.S. tech sector in 2007, the report noted, according to Forbes.

Apple became the first U.S. company to reach a market capitalization of $2 trillion on Aug. 19.

Micorost and Amazon are nearing the $2 trillion club with market caps of more than $1.7 trillion each; Google reached $1 trillion in January and Facebook is worth nearly $900 billion.

The five companies make up more than 20 percent of the S&P 500, according to stock market newspaper Investor's Business Daily.

Apple and Amazon have seen significant growth over the past decade and the past year.

Apple's market cap has surged 69 percent -- about $695 billion -- in 2020 alone. Amazon shares are also up about 60 percent in 2020, and the company's market cap has grown by more than $600 billion this year.

Tech stocks have spiked amid the coronavirus pandemic at a pace that some investors have compared to the internet explosion, or "doctom bubble" of 1999.



https://www.foxbusiness.com/markets/us-tech-stocks-currently-worth-9t

 

[TheComputerGroup]

Technocrats are the ruling class of this world .........

 

[PatsFan1283]

That’s a pretty loose definition of what technocrat means, but yes it’s nice to be in a country with toothless anti-trust law

 

[Ricboff]

'Tech stocks have spiked amid the coronavirus pandemic at a pace that some investors have compared to the internet explosion, or "doctom bubble" of 1999.'

they could be under pressure if this covid stuff settles...emphasis on 'could '

not a fundamentalist , but for shits and giggles here 's an intriguing valuation ; TSLA trades at about 250 X earnings, and 1000X its trailing earnings, LOL. Don't think its a value play @).Wonder if it still collects govt subsidies ?

 

[PatsFan1283]

No way can any car company have that type of valuation now. Obviously most people buying TSLA aren't doing fundamental analysis but the ones that are seem to just think Musk pulls something out of his ass that has nothing to do with his core business. Like Bezos did with AWS.

Turning the cars into robotaxis, solar roofs, whatever...His predictions have all been horrible so far if you go on down the line and look at them, but the stock is worth almost as much as Berkshire nowaways so who knows.....Who...knows.....