📈 U.S. Big Tech Stocks Surge (2000–October 2024)
The collective market capitalization of seven leading U.S. technology giants—commonly called the "Magnificent Seven"—has expanded dramatically, growing by 14 times (25% CAGR) from $1.1 trillion in 2012 to an impressive $16 trillion by the end of October 2024. This surge far outpaced the broader U.S. stock market, which grew only 2.5 times in the same period. Consequently, these companies' combined share of the U.S. market capitalization rose from 6% to 27%, underscoring their significant impact on the stock market landscape.
Market Capitalization of the Magnificent Seven (as of October 2024):
· Apple: With a market cap of $3.43 trillion, Apple continues to dominate in consumer electronics and services, benefiting from exceptional brand loyalty.
· NVIDIA: Holding a market cap of $3.26 trillion, NVIDIA is renowned for its innovation in graphics processing units (GPUs) and AI technologies.
· Microsoft: At $3.02 trillion, Microsoft maintains a stronghold in software, cloud computing, and AI, marked by strategic acquisitions and consistent innovation.
· Alphabet (Google): Alphabet's $2.10 trillion valuation reflects its leadership in digital advertising, search, and cloud technology.
· Amazon: Valued at $1.96 trillion, Amazon leads in e-commerce, cloud services (AWS), and digital streaming.
· Meta (Facebook): Meta's $1.43 trillion market cap highlights its ongoing influence in social media and digital advertising, despite challenges.
· Tesla: With a $0.80 trillion valuation, Tesla drives innovation in electric vehicles and renewable energy.
Growth in Market Capitalization (2018 - October 2024):
- NVIDIA: 40.0x
- Tesla: 14.0x
- Apple: 4.6x
- Microsoft: 3.9x
- Meta: 3.8x
- Alphabet: 2.9x
- Amazon: 2.7x