The dramatic impact of tech’s top performers in 2020
In 2020, 7 tech companies were responsible for adding $3.4 trillion in value into the market, powering through the Covid 19 global pandemic and continuing to deliver returns, despite numerous investigations into their dominance. The highlights and top performers, in other words, best tech to invest in, were as follows:
Apple’s market cap increased by almost $1 trillion, driven by consumer optimism regarding its iPhone sales.
Amazon increased its market cap by $700 billion, thanks to its control over e-commerce as well as the strength of Google and Facebooks ad duopoly.
Tesla, in 2020, increased its market cap nine-fold, from $76 Billion to $669 Billion, yielding a 742% return for investors.
Nvidia increased its market cap to $323 billion, driven by the exceptionally high demand for gaming devices as well as the agreement to purchase mobile chipmaker, Arm Holdings from Softbank for $40 Billion.
Microsoft gained $480 billion thanks to the demand for its teams’ platform.
Facebook gain 268 billion, yielding a 33.05% return to its investors whilst Alphabet gained $193 billion, yielding a 30.81% return.
Investors are now looking forward into 2021 to determine if this spectacular growth and performance will continue or if there is concern over the tech bubble bursting. Knowing the best tech to invest in was a crucial part of the 2020 markets, and one I am sure we will continue to see throughout 2021.
About Mike Coady
Mike Coady is an expat expert based in Dubai and is on hand to help with all of the above and more.
Mike is an award-winning money coach and industry leader in the financial sector.
Qualified to UK Financial Conduct Authority (FCA) standards, a member of the Chartered Insurance Institute, a Fellow of the Institute of Sales Management (FISM), a Fellow of the Institute of Directors (FIoD), and featured as a highly qualified Financial Adviser in Which Financial Adviser.
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Blog published by Mike Coady.
