Seven of the largest US tech companies have significantly increased their capitalization levels in 2020, despite the coronavirus pandemic and the economic crisis, according to online sources. Thus, the total capitalization of Apple, Microsoft, Amazon, Alphabet, Facebook, Tesla and Nvidia as of the end of the last year grew by $ 3.4 trillion, exceeding the figure of $ 8.5 trillion.
The source notes that the growth of the largest US companies in the technology sector could not slow down the difficult economic situation caused by the coronavirus pandemic, as well as new antitrust investigations that were launched against Google and Facebook last year.
One of the main surprises was the rapid capitalization growth of Tesla, the American electric vehicle manufacturer. Last year, Elon Musk’s stock price increased almost ninefold, and its market capitalization rose from $ 76 billion at the beginning of the year to $ 669 billion by December 31. Despite the fact that Tesla had to stop production in the first half of the year due to the coronavirus pandemic, the automaker later managed to catch up and even delivered a record number of electric vehicles to the market in the third quarter.
There is also more than a twofold increase in the capitalization of Nvidia, which develops and produces video cards. At the end of 2020, Nvidia was valued at $ 323 billion, making it the seventh largest in the tech sector and sixteenth among all US companies listed on the exchange.
The largest growth in capitalization in 2020 was shown by Apple, whose shares rose by 81%, and the level of capitalization – by almost $ 1 trillion. As for the other major players in the tech sector, the market value of Amazon increased by $ 710 billion, Microsoft – by $ 480 billion, Alphabet – by $ 268 billion, Facebook – by $ 193 billion.
The success of the tech giants is also reflected in the list of the richest people in the world. Amazon CEO Jeff Bezos is at # 1, followed by Tesla CEO Elon Musk and Microsoft co-founder Bill Gates. Facebook CEO Mark Zuckerberg is ranked fifth. The world’s top ten richest people include Google founders Larry Page and Sergey Brin, and former Microsoft CEO Steve Ballmer.
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