From Google to Meta: Tech giants dominating Wall Street's trillion-dollar club

Updated: May 07, 2022, 11:13 AM(IST)

Throughout the COVID-19 pandemic, tech stocks, including those focused on software, semiconductors, and cloud computing, have seen a surge in their valuations as the companies benefited from stay-at-home mandates.

Here is a list of stocks, whose market capitalisations are in the trillions, as well as those that are closing in on the milestone, including Meta Platform, which had breached the $1 trillion milestones but is now trading below that mark.
 

 

Apple

Apple Inc has forecasted bigger problems as COVID-19 lockdowns snarl production and demand in China, the war in Ukraine dents sales and growth slows in services, which the iPhone maker sees as its engine for expansion.

It was founded in 1976 and has a market capitalisation of $2.87 trillion.

(Photograph:Reuters)

Microsoft

Microsoft Corp has forecasted double-digit revenue growth for the next fiscal year, driven by demand for cloud computing services, and its shares jumped about 4 per cent.

Microsoft forecast Intelligent Cloud revenue of $21.1 billion to $21.35 billion for its fiscal fourth quarter, driven by strong growth in its Azure platform. That compared with a Wall Street consensus of $20.933 billion, according to Refinitiv data.

It was founded in 1975 and has a market capitalisation of $2.51 trillion.

(Photograph:Reuters)

Alphabet

Alphabet Inc, the parent company of Google, is an American multinational technology conglomerate holding company headquartered in Mountain View, California. It was created through a restructuring of Google on October 2, 2015 and has a market capitalisation of $1.97 trillion.

 

(Photograph:Reuters)

Amazon

Amazon, which is the world's largest online retailer, has spent billions of dollars on new warehouses that cut into profits, explaining to investors that it had no choice but to meet ever-rising consumer demand.

It was founded in 1994 and has a market capitalisation of $1.79 trillion.

(Photograph:Reuters)

Tesla

Tesla Inc is aiming to increase output at its Shanghai plant to 2,600 cars a day from May 16, it said in an internal memo. That would bring weekly output to 16,900 vehicles based on Tesla's established work week at the facility.

It was founded in 2003 and has a market capitalisation of $1.07 trillion.

 

(Photograph:Reuters)

Meta

Meta Platforms Inc is slowing the growth of its workforce as the Facebook parent looks to rein in costs. It was founded in 2004 and has a market capitalisation of $919.54 billion.

(Photograph:Reuters)

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