See Big Tech’s $2.7 Trillion Growth in 2020 All in One Chart

Sean Burch
·1-min read

It has been a brutal year for so many people and small businesses. But for the five major tech giants in the U.S. — Microsoft, Apple, Facebook, Amazon and Google — 2020 has merely solidified their dominance, with each company seeing their valuations swell during the pandemic. Here’s all you really need to know: Altogether, those five companies have seen their market caps increase $2.7 trillion this year alone. Instead of being decimated by COVID-19, Big Tech has only gotten, well, bigger. Amazon and Apple, in particular, have thrived during the pandemic. It’s easy to understand why in Amazon’s case: With stores shut down or operating at less-than-full strength — coupled with millions of people looking to stay inside as much as possible — Amazon has become even more of a mainstay for the average American consumer, becoming the go-to spot to order everything from toilet paper to pet food. Amazon reported record sales of $89 billion during the second quarter — the first full-quarter to coincide with the pandemic — and a record quarterly profit of $5 billion. Overall, Amazon’s valuation increased 75% this year to $1.65 trillion. Those gains have only made founder and CEO Jeff Bezos even more...

Read original story See Big Tech’s $2.7 Trillion Growth in 2020 All in One Chart At TheWrap