In 2007, the shares of US tech companies such as Apple, Microsoft or Amazon made up just a quarter of the value of the European stock market. Driven by the current fireworks display of tech stocks on the US stock exchanges, the market capitalization of US tech companies has for the first time exceeded that of the stock market in Europe. That was the result of a corresponding analysis by the Global Research department of Bank of America.
US tech sector worth more than all European stocks
The US tech sector has a market capitalization of $ 9.1 trillion, as reported by CNBC. The European stock market, which Bank of America also includes Great Britain and Switzerland, comes to $ 8.9 trillion. One of the drivers of this development is Apple. The iPhone corporation recently passed the $ 2 trillion mark – just two years after winning the battle for its first trillion. Apple currently has a market capitalization of $ 2.14 trillion.
With a market value of around $ 1.7 trillion, Amazon has also grown strongly in recent months. Over the course of a year, the e-commerce giant’s share value almost doubled on the Nasdaq. Microsoft is on a similar level in terms of market capitalization. The software company comes to $ 1.73 trillion – the share has gained around 68 percent since summer 2019. The Alphabet share made up 40 percent in the past twelve months, the stock market value of the Google parent is currently 1.12 trillion dollars.
If you add Facebook (837 billion dollars), the total market capitalization of the five US tech companies (Big Five – GAFAM) is a good 7.5 trillion dollars. All other listed US tech companies have a market value of around 1.6 trillion dollars. The weight of the so-called Big Five is correspondingly high on the S&P index, in which the 500 most important US stock exchange groups are listed. The five tech heavyweights are now doing this