Total market value of the seven U.S. technology giants increases by $3.4 trillion in 2020

Apple, Microsoft, Amazon, Alphabet, Facebook, Tesla, and Nvidia seven major US technology giants, driven by the global coronavirus epidemic in 2020 and the widespread economic crisis, have increased their total market value by 3.4 trillion US dollars.

Among them, the crazy spike in Tesla’s stock price is the biggest surprise. The company’s stock price has doubled seven-fold in 2020, pushing the electric car manufacturer’s market value from $76 billion at the beginning of the year to $669 billion on Thursday’s close. Although the company initially closed its factories due to the impact of the new coronavirus epidemic, its stock price rebounded sharply and delivered a record number of electric vehicles in the third quarter. In December, Tesla became an S&P 500 constituent officially.

At the same time, the market value of chipmaker Nvidia has more than doubled in 2020, and its current market value is $323 billion, making it the seventh-largest technology company by market value, and its market value ranks 16th among all American companies.

The largest increase in market value in 2020 is Apple. Its stock price has risen by 81%, and the company’s market value has risen by nearly $1 trillion. Thanks to the growth of consumers and the cloud computing business, Amazon’s market value has increased by $710 billion in 2020. In addition, the market value of Microsoft increased by US$480 billion last year, Alphabet increased by US$268 billion, and Facebook increased by US$193 billion.