Courtesy of Pam Martens.
On August 26, 2015 the market capitalization of just five Big Tech stocks totaled $1.889 trillion at the close of trading that day. Here’s the tally: Apple $625.532 billion; Google, $440.767 billion; Microsoft, $341.594 billion; Facebook, $245.795 billion and Amazon, $234.215 billion.
At the close of trading yesterday, those numbers stacked up like this: Apple $797.366 billion; Google $720.206 billion; Microsoft $918.312 billion; Facebook $467 billion; and Amazon, $833.365 billion – or a total of $3.736 trillion – almost a doubling of market value in less than four years.
Of particular note is that Amazon has increased its market value by more than three and a half times, despite its inability to show profits for much of its existence.
In December 2013, the International Business Times reported as follows about Amazon’s abysmal history of profits:
“So what’s with Wall Street’s love affair with Amazon.com?
“The company barely ekes out a profit, spends a fortune on expansion and free shipping and is famously opaque about its business operations.
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