The US Tech Sector Worth More Than Any Listed Company In Europe – E24

So far this year, the US tech sector has risen 35 percent, figures from Bloomberg show.

According to Bank of America, the tech boom on Wall Street has pushed the market value of the nation’s tech companies to $ 9.1 billion, equivalent to 80.5 billion crowns.

By comparison, all publicly traded companies in Europe are worth 8.9 billion, about 78.7 billion crowns, the bank writes in a note reproduced by, among others, CNBC and Markets Insider.

This is in stark contrast to 2007, when the European stock market was four times the size of the American tech sector.

Tek-boom on the stock exchanges

Tech companies have been at the forefront of the stock market rally since the stock market crash in March. So far this year, the MSCI Information Technology US technology index has risen 35 percent, while the European MSCI index has fallen 12.5 percent over the same period.

And the recovery after the stock market crash for the tech sector in the United States has been much faster than for other sectors in the country. The technology index was already at the beginning of May in plus for the year, while the industrial sector in the country is still below the level of the beginning of the year.

From the lowest point in March, the technology index is up 76.3 percent. The European index, on the other hand, has risen 30.3 percent since it bottomed in March.

The giants pull the load

Most of the market value in the technology sector is made up of Apple, Microsoft, Alphabet, Amazon and Facebook. In total, the five companies are worth about $ 7.5 trillion, about $ 66.5 trillion.

The largest technology companies are also the companies that have seen the most pronounced increase in recent months.

The CATCH + index, which consists of the five tech giants Apple, Alphabet, Amazon, Facebook and Tesla and Alibaba, Nvidia, Twitter, Baidu and Netflix, is up 48.42 percent year-to-date and 115, 97 percent since bottoming out in March.

Growth has been strongest for electric car maker Tesla. The company is up an incredible 513 percent on Wall Street since the stock market crash in March.

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