M-cap of top 7 global tech stocks surged 61% last year, shows data

The market capitalisation of the top seven global tech stocks  — Apple, Microsoft, Amazon, Alphabet, Facebook, Tesla, and NVIDIA — have grown 61 per cent in the past year, or by $3.2 trillion, to $8.4 trillion. 

Apple alone commands a market cap of over $2.2 trillion, which is more than GDP of several countries, such as Brazil, Italy, Canada, and Russia. According to reports, Tesla has become the largest-ever addit­ion to the S&P 500 index, with the fifth heftiest weighting after posting five straight profitable quarters. 

Tesla’s share price has risen 729 per cent in the past year, while share prices of Apple and Amazon have gained 76 per cent and 71 per cent during this period. The year has been good for India’s tech bellwethers as well. TCS, Infosys, HCL Technolgies, and Wipro have seen their combined market cap rise by 53 per cent or by Rs 7.6 trillion (about $105 billion). Their shares have risen 41-73 per cent.