The so-called “Magnificent 7” companies now have more financial power than almost any other major country in the world, according to new research by Deutsche Bank. The bank said in a research note that the significant rise in profits and market value of the seven giant technology companies in the United States – Apple, Amazon, Alphabet, Meta, Microsoft, Nvidia, and Tesla – exceeds those of all listed companies in almost every G20 country. Among G20 countries other than the United States, only China and Japan (and only the latter) achieve greater profits when their listed companies merge.
Deutsche Bank analysts highlighted that the combined market value
Magnificent 7 alone would make it the second largest country exchange in the world, double the fourth-placed Japan Stock Exchange. They added that Microsoft and Apple, individually, have a market cap similar to all listed companies combined in France, Saudi Arabia and the UK.
For his part, Jim Reid, head of global economics and thematic research at Deutsche Bank, warned that while major companies eventually tended to withdraw from the top five positions as investment trends and profit expectations developed, 20 out of 36 companies occupied that top bracket. It is still in the top 50 today.
Among the Mag 7 in the current top 5 companies, Microsoft has been there since 1997 except for 4 months, Apple has been there since December 2009, Alphabet has been there since joining except for 2 months since August 2012, and Amazon since January 2017. The most recent entrant is NVIDIA, which has been there Since the first half of last year.”
2024-02-19 18:09:16
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