US tech stocks currently worth $9T
Apple became the first U.S. company to reach a market capitalization of $2 trillion
U.S. tech stocks are now worth collectively more than $9 trillion, as Forbes first reported Thursday, citing a new report from Bank of America Global Research.
That figure exceeds Europe's entire $8.9 trillion stock market: For reference, Europe's market cap was four times the size of the U.S. tech sector in 2007, the report noted, according to Forbes.
Apple became the first U.S. company to reach a market capitalization of $2 trillion on Aug. 19.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AAPL | APPLE INC. | 239.59 | +2.26 | +0.95% |
Micorost and Amazon are nearing the $2 trillion club with market caps of more than $1.7 trillion each; Google reached $1 trillion in January and Facebook is worth nearly $900 billion.
FACEBOOK ACCUSES APPLE OF REJECTING ATTEMPT TO TELL USERS ABOUT APP STORE FEES
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| GOOGL | ALPHABET INC. | 171.49 | +2.54 | +1.50% |
| MSFT | MICROSOFT CORP. | 430.98 | +7.52 | +1.78% |
| AMZN | AMAZON.COM INC. | 210.71 | +2.82 | +1.36% |
| FB | NO DATA AVAILABLE | - | - | - |
The five companies make up more than 20 percent of the S&P 500, according to stock market newspaper Investor's Business Daily.
Apple and Amazon have seen significant growth over the past decade and the past year.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
Apple's market cap has surged 69 percent -- about $695 billion -- in 2020 alone. Amazon shares are also up about 60 percent in 2020, and the company's market cap has grown by more than $600 billion this year.
Tech stocks have spiked amid the coronavirus pandemic at a pace that some investors have compared to the internet explosion, or "doctom bubble" of 1999.