Technology companies have officially conquered the stock market
For the first time ever, the five most valuable companies in the world by market capitalization this week were all U.S. technology companies: Apple, Alphabet (the parent company of Google), Microsoft, Amazon, and Facebook. Even at the height of the dot-com bubble in the early 2000s, the tech industry never swept the market's top positions, Bloomberg reports. Since then, investor dollars have slowly trickled away from long-time multinational superpowers like Exxon and GE in favor of supposedly forward-looking tech giants like Google, Amazon, and Facebook. Apple has maintained its spot in the top five since 2011.
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