American tech giants estimated at more than majority of countries complete stock markets
Date
2/21/2024 5:52:26 AM
(MENAFN) In a noteworthy revelation, Deutsche Bank's research note has highlighted that the combined market capitalizations of the seven largest tech companies in the United States exceed those of companies in nearly every other major global economy. According to CNBC's report on Monday, the so-called "Magnificent 7" – comprising Apple, Meta, Amazon, Alphabet, Tesla, Microsoft, and Nvidia – boast market capitalizations and soaring profits that outstrip publicly traded firms in almost all G20 countries. The analysts noted that only China and Japan have larger profits among their listed companies.
The sheer scale of these tech titans is further emphasized by the fact that their combined market capitalization alone would position them as the second-largest country stock exchange globally. To illustrate, Microsoft and Apple, two of the leading companies in this group, each possess market capitalizations nearly equivalent to the combined value of listed companies in France, Saudi Arabia, and the United Kingdom.
Deutsche Bank's analysts based their study on the valuations of 36 companies that have consistently ranked among the S&P 500's top five since the 1960s. Despite variations in the recent stock market performances of these top earners – such as Tesla experiencing a 20 precent drop in share price since the beginning of 2024, while Nvidia has surged by nearly 47 percent during the same period – Jim Reid, Deutsche Bank's head of global economics and thematic research, emphasized that the core of this group has consistently been the largest and most successful companies in the United States and, consequently, the world.
The dominance of these United States tech giants raises questions about their influence on global economic landscapes and the concentration of wealth within a handful of corporations.
As these companies continue to shape industries and redefine markets, the report sheds light on the magnitude of their impact on both the United States and international economies.
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