US tech giants add $3.9 trillion to stock values in 2023; Meta emerges best performer with 188% Mcap growth

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Also Read: Apple shares climb 0.7%, registering an intra-day record high of $199.62 The Nasdaq jumped 32 per cent in the first six months of the year, driven by Apple’s rally and chip major Nvidia’s boom, marking its best first half in the past 40 years. However, the tech stock’s price rally has continued ever since, helping the largest players in the market to add trillions of dollars to their stock values. According to YCharts data released by Stocklytics.com, the combined stock value of Apple, Microsoft, Alphabet, Amazon and Meta, the world’s five largest tech companies, amounted to $6.17 trillion in December last year.

Since then, this figure has surged by 62 per cent or $3.9 trillion and hit more than $10 trillion. This represents the biggest annual increase so far. In 2019, their combined stock value grew by $1.73 trillion.

In 2020 and 2021, when the tech market boomed due to COVID-19 pandemic, the market’s largest players increased their stock value by $2.6 trillion. Also Read: Nvidia becomes first US chipmaker valued at over $1 trillion; joins exclusive FAANG group However, the entire growth was lost in 2022, when their stock prices plunged, leading to a $3.9 trillion combined loss. Still, the record stock price growth in 2023 has helped the five tech giants to cover all the losses from last year.

The e-commerce giant Amazon has witnessed the second-largest increase of 84 per cent, driving its market cap to over $ 1.5 trillion, the figure last seen in mid-2022. Microsoft’s and Alphabet’s market caps jumped by 55 per cent year-over-year, helping the two companies add more than $1.6 trillion in value. Apple stocks have jumped 45 per cent since last December, surpassing $3 trillion in market cap.