The four biggest tech companies are each worth more than $1 trillion, a landmark last reached before Covid-19
Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., March 20, 2020.
The four biggest tech companies finished the day each worth more than $1 trillion, a landmark that was last reached before the Covid-19 pandemic struck the U.S.
The landmark shows the resilience of the tech industry in the face of a global pandemic, recession and record unemployment.
Alphabet was the latest to re-enter the trillion-dollar club, reaching $1.02 trillion in market value at the close of trading. Apple was valued at $1.64 trillion, followed by Microsoft at $1.61 trillion. Amazon, which has largely benefited from stay-at-home orders that battered most companies, was valued at $1.52 trillion as of market close.
The valuations were boosted by a strong day for U.S. markets. The Dow Jones Industrial Average rose 459 points, or 1.78%, while the S&P 500 finished up 1.59%. The tech-heavy Nasdaq Composite jumped 2.21% to an all-time high.
The technology giants first reached the milestone in late January and held onto gains into February, before the pandemic caused markets to plummet.
