The Big Five US Tech Giants Hit $6.4trn in Market Cap, a 53% Jump in a Year

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The Big Five US Tech Giants Hit $6.4trn in Market Cap, a 53% Jump in a Year

 The Big Five US Tech Giants Hit $6.4trn in Market Cap, a 53% Jump in a Year Tech stocks dramatically outperformed the broader market in 2020, despite the COVID-19 effects. According to data gathered by ForexSchoolOnline.com, the combined market cap of the five largest tech companies in the United States surged by $2.2trn in the last year, reaching $6.4trn value in July. With nearly $1.7trn market value at the end of last week, multinational technology giant Apple ranked as the leading US tech company. Apple Stock Price Soared in 2020 In 2006, the combined market cap of Apple, Microsoft, Amazon, Google now Alphabet, Facebook, and IBM as the leading US tech companies stood at $465.4bn, revealed Statista and Yahoo Finance data. In the next ten years, this figure grew by almost five times, reaching over $2trn in May 2016. The US tech giants' stock price continued rising in the following years, and by June 2019, their combined value of shares stood at $4.1trn, a 100% jump in three years. The increasing trend continued in the last twelve months, with the market cap growing by 53% between June 2019 and July 2020, the most significant increase in fifteen years. The Yahoo…

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