Apple is the only American company to reach a $2 trillion market value. Other companies like Microsoft are worth just under $2 trillion. Amazon has a market capitalization of $1.7 trillion, and Google parent company Alphabet is worth about $1.5 trillion.
Tech stocks have come roaring back in recent weeks, helping to push these Nasdaq stalwarts and others to near-record highs.The tech’s Magnificent Seven the five FAANG stocks of Facebook, Amazon, Apple, Netflix and Alphabet, plus Microsoft and Tesla are now collectively worth about $9.3 trillion. That’s a quarter of the S&P 500’s total market value of $37.5 trillion.
Morgan pointed out that while some of the tech leaders of the 1990s, such as IBM, Oracle and Cisco, eventually began to post slower levels of earnings and sales growth, that doesn’t appear to be happening with the current Nasdaq leaders. JPMorgan analyst Doug Anmuth expects Amazon to hit the $2 trillion mark in due course. According to the report that Amazon is his favourite of the FAANG stocks heading into first-quarter earnings and that the stock could climb another 30% in the next 12 months. That would push its market value to about $2.2 trillion.