After losing hundreds of billions of dollars in 2022, the third-hardest year for the tech sector since 2008, the tech giants showed impressive performance in 2023, helping them grow their stock values more than ever.
According to data presented by Stocklytics.com, Apple, Microsoft, Alphabet, Amazon, and Meta have collectively added a whopping $3.9trn to their stock value in 2023, the highest figure in the market’s history.
Big Tech’s Stock Value Hit over $10T
Tech stocks have dominated the 2023 stock market performance. The rise of AI, combined with the improving economy and slowing inflation, has helped the sector come into the spotlight, with many investors jumping back on the tech train. And there were a lot of reasons for that.
The Nasdaq jumped 32% in the first six months of the year, powered by Apple’s rally and Nvidia’s boom, marking its best first half in the past 40 years. But 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, the combined stock value of Apple, Microsoft, Alphabet, Amazon, and Meta, the world’s five largest tech companies, amounted to $6.17trn in December last year. Since then, this figure has surged by 62% or $3.9trn and hit more than $10trn. Moreover, this represents the biggest annual increase so far.
In 2019, their combined stock value grew by $1.73trn. In 2020 and 2021, when the tech market boomed due to COVID-19, the market’s largest players increased their stock value by $2.6trn. However, all of that and even more was lost in 2022, when their stock prices nosedived, bringing a shocking $3.9trn combined loss. Still, the record stock price growth in 2023 has helped Big Tech to cover all the losses from last year.
Meta was the Best Performer in 2023 with a 188% Market Cap Growth
The YCharts data also show Meta was the best performer in the Big Tech group this year. After losing two-thirds of its stock value in 2022, Meta’s market cap has surged by an impressive 188% year-over-year, the biggest increase among the Big Five tech giants. In December 2022, Meta’s stock value was $315.5bn, and now it’s over $908bn.
The e-commerce giant Amazon has witnessed the second-largest increase of 84%, driving its market cap to over $ 1.5 trillion, the figure last seen in mid-2022.
Statistics show Microsoft’s and Alphabet’s market caps jumped by 55% year-over-year, helping the two companies add more than $1.6trn in value. Apple stocks have jumped 45% since last December, surpassing $3trn in market cap.
The full story and statistics can be found here: https://stocklytics.com/
