The momentum is now with US tech because the market cap is now greater than all of Europe, which has a lot lesser massive ticket tech stocksNew York: The market capitalisation of US tech stocks has crossed $9 trillion and now the sector is worth greater than all the European stock market. Based on a analysis word by Bank of America, the European market was 4 occasions bigger than US tech in 2007.
The momentum is now with US tech because the market cap is now greater than all of Europe, which has a lot lesser massive ticket tech stocks.
Bank of America International Analysis mentioned in a word that that is the primary time the market cap of the US tech sector at $9.1 trillion exceeds that of Europe, which together with the UK and Switzerland is now at $8.9 trillion. The US markets and indices have been recently dominated by FAANG and different tech stocks which have witnessed the utmost upward swing.
The 5 prime tech stocks, Apple, Microsoft, Alphabet, Amazon and Fb, accounted for 17.5 per cent of the S&P 500 in January, and the rotation of funds wealth into tech through the coronavirus pandemic has pushed that quantity properly above 20 per cent.
Client tech firm Apple is worth greater than $2 trillion out of the $ 9 trillion. Tech stocks overtaking Europe can also be mirrored within the general efficiency of US and European markets within the final decade.
For the reason that starting of 2010, the S&P 500 has gained almost 200 per cent, whereas the Euro Stoxx 50 has risen 13.four per cent and UK’s FTSE 100 has gained just below 11 per cent.
