글로벌 시가총액 5대 기업...IT 기업이 싹쓸이
As the the U.S. stock market closed on Monday, Amazon and Facebook passed Exxon Mobile in market capitalization,... making them the fourth and fifth most valuable public companies following Apple, Alphabet and Microsoft.
That means... for the first time ever... the five most valuable public companies in the world,...are all tech companies.
Our Kim Hye-sung tells us if this trend is likely to continue.
Apple, Alphabet, Microsoft, Amazon and Facebook.
These Silicon Valley tech giants are now the world's five most valuable companies.
At the close of U.S. trading on Monday, Amazon and Facebook surpassed Exxon Mobile to become the world’s fourth and fifth most valuable firms based on market capitalization.
The switch came a week after Exxon revealed their profits had tumbled 59 percent last quarter, leading to a more than three percent drop in the company's market capitalization on Monday.
The oil giant has struggled amid falling oil and natural gas prices over the last couple of years, with its revenue dropping by 142 billion U.S. dollars between 2014 & 2015.
And oil prices slipped below the psychologically important level of $40 a barrel on Monday, further pulling down Exxon's stock price.
On the other hand, Amazon posted its fifth straight quarter of profit, the biggest revenue increase in four years, thanks to its growing cloud computing business, moving up from seventh to the fourth most valuable company.
All four other tech companies' earnings beat market expectations.
While Apple's revenue between April and June fell 15 percent from the same period last year due to falling iphone sales, it still beat market expectations and secured its position at number one.
Google's parent company Alphabet and Microsoft came in second and third, driven by their mobile ad sales and cloud business respectively.
Facebook came in 5th, with its net profit increasing 186 percent year on year, recording more than 2 billion dollars, also driven by mobile advertising.
"Tech companies are leading the stock market in the U.S. and Korea. As oil prices remain low and most investments are in the tech industry right now, IT companies are going to continue posting stellar earnings, and this trend is likely to continue for a while."
But just ten years ago, the top ten most valuable public companies were mainly banks like AIG, Citygroup and Bank of America, with only one tech company,...Microsoft on the list.
So tech companies will have to keep innovating to keep their lead in the stock market.
Kim Hyesung, Arirang News.
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