Wall Street

The 7 largest Tech firms will grow $3.4T in 2020

Big tech firms ended a great year with the 7 largest US tech companies, which are AppleMicrosoftAmazonAlphabetFacebookTeslaNvidia, growing by $3.4 trillion in market capitalization in 2020, which was filled with economic crises after the spread of the Corona virus pandemic globally.

But the increased growth of major tech companies was not affected by the Covid-19 virus, nor by the increasing number of investigations into its market dominance, and Tesla’s growth was the biggest surprise, as its market value increased from $76 billion at the beginning of the year to $669 billion when the market closed on Thursday. And this month, Tesla represented the largest company to join the S&P 500 index after announcing five consecutive winning quarters.

At the same time, chip maker Nvidia value doubled in 2020, bringing the company’s market value at close to $323 billion, placing it seventh on the list and 16th overall in the United States.

In September, Nvidia agreed to buy mobile phone chip maker Arm Holdings from its parent company SoftBank for $40 billion, in the company’s second-largest deal this year.

By a wide margin, Apple achieved the largest growth in market value after increasing its value by $1 trillion due to the growth of its stock by 81%, and the value of Amazon also increased by $710 billion, and Microsoft by $480 billion, while Alphabet enjoyed a growth of $268 billion and Facebook by $193 billion.

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