Big tech adds US$2.5tn in value last yearBloombergBig tech powered US stocks to a third straight winning year last year, as giants such as Apple Inc and Microsoft Corp continue to see strong demand almost regardless of the economic environment. While their performances last year varied from Alphabet’s 65 percent surge to Amazon’s 2.4 percent slog, the group collectively added more than US$2.45 trillion in market valuation. Microsoft, Apple and Alphabet were among the three biggest contributors to the S&P 500 Index’s gains for the year. “While I believe in the merits of tilting toward cyclical names going into 2022, I would not abandon tech,” Luschini said. It was the strongest year for the stock since 2009, and it briefly joined Apple and Microsoft with a US$2 trillion market valuation.

Source: Taipei Times January 02, 2022 23:29 UTC