Google, apple, Microsoft On Tuesday night, the company reported record quarterly sales and profits as it continued to benefit from the pandemic that caused Big Tech a “perfect positive storm.”
Google’s parent company Alphabet had second-quarter sales of $ 61.8 billion (£ 44.5 billion), up 62% year-over-year, and profits of more than $ 18.5 billion (£ 13.3 billion). Reported more than double. At the same time last year. The company’s advertising revenue increased 69% from last year.
Microsoft also exceeded expectations, with revenues exceeding $ 46 billion (£ 33 billion) this quarter. This is an increase of 21% compared to the same quarter last year.
Results will come later Tesla reported record profits On Monday in one of the busiest weeks ever for quarterly US earnings results. Big Tech’s explosive revenue continues on Wednesday’s Facebook and Thursday’s Amazon.
Collectively, Google, Amazon, Apple, Microsoft and Facebook Stock prices soared during the pandemic and are now worth more than one-third of the total S & P 500 index of the 500 largest US trading companies.
Thomas Phillipon, an economist and professor of finance at New York University, said The biggest financial winner from a pandemic The global blockade has led to more businesses and consumers using the service.
“They were already on the rise and lasted for most of the decade, and the pandemic was unique,” Philippon said. “For them, it was a perfect positive storm.”
Analysts at Morgan Stanley are moving Alphabet to achieve an annual net profit of $ 65 billion, up 59% from 2020. Banks estimate annual sales of $ 243 billion, an increase of $ 60 billion from last year.
Alphabet’s share has risen 75% over the past year to a record $ 2,670, despite analysts threatening to curb control of the Internet search market by regulators around the world. , I predict that it may rise further. Morgan Stanley said stock prices could reach $ 3,060 and are unlikely to fall below $ 1,800 in the worst-case scenario.
Brian Nowak, an analyst at Morgan Stanley, said the blockade of the pandemic was boosted. Google Because consumers have spent more time investigating potential purchases online. According to survey data, 54% of retailers ranked Google search products, including YouTube, as “the first place to research products online, from 50% of past surveys.”
“Google website growth is believed to be driven by ongoing innovations such as mobile search, strong YouTube contributions, and map monetization, so in 21 years It may recover, “Nowak said in a note to the client.
Apple has made so much money that it has repurchased $ 421 billion worth of shares in the last eight years, but there is still about $ 80 billion in cash on its balance sheet.
When Microsoft reported a 31% increase in profits in its last quarter, CEO Satya Nadella said it was “just the beginning” as the transition to digital technology was “accelerating” rapidly. I did.
The rise in stock prices of major tech companies has earned billions of dollars for their super-rich founders and early investors. Recently calculated Fintech Zoom magazine There are 365 billion billionaires who have made a fortune in technology compared to 241 before the pandemic.
In summary, global technology billionaires own $ 2.5 trillion in personal property, up 80% from $ 1.4 trillion in March 2020.Amazon founder and CEO Jeff Bezos is the wealthiest person in the world with an estimated $ 212 billion in wealth and co-founder of Tesla co-founder Elon Musk for $ 180 billion and co-founded by Microsoft. $ 151 billion by Bill Gates, Facebook Mark Zuckerberg For about $ 138 billion.
Zuckerberg believes that the Internet will play an even greater role in people’s daily lives in the future, and instead of interacting with the Internet via mobile phones, people will be immersed through virtual reality headsets.
He said Facebook will move from a social media platform to a “metaverse company” where people can work, play and communicate in virtual environments. Zuckerberg said it would be “a materialized Internet that is there, not just displaying content.”