Top 7 most valuable US tech companies – Apple, Microsoft, Amazon, Alphabet, Facebook, Tesla and Nvidia picked up a combined $3.4 trillion in market cap last year.
Despite the global epidemic and the wider economic crisis, the market capitalization increased among the top 7 tech companies. This information has come up in a report of the media CNBC.
The year 2020 was not poisonous for everyone. The highlight of the outgoing year was the massive rise of technology companies. The position of big technology companies has become bigger in this catastrophic year.
In the last year, sales of Apple’s iPhone soared, Microsoft’s product value rose, Amazon’s e-commerce business flourished, Facebook and Google’s ad business flourished, Tesla’s share price soared, and chipmaker Nvidia’s market value doubled.
Tesla’s share price has risen ninefold in one year, raising the market capitalization of the electric car maker from $76 billion to $669 billion.
Tesla’s business took a 360-degree turn in the third quarter of the year, even though car sales were cut off at the start of the Coronavirus. Tesla added the most points to the S&P 500 index in the US capital last December.
Nvidia’s market capitalization has risen to $323 billion this year. It has taken place as the 7th technology company in the United States.
In addition, the place of the 16th largest US company is now theirs. And the rise of Apple is even greater. About $1 trillion a year.