Yes, big tech continues to grow at exponential rates, and the acronym we all know and love(?) shifts letters as our jaws sit agape at the latest quarterly results. For the uninitiated, that acronym is collectively worth $8T+:
The #pandemic boosted sales – big time!
The phrase “record growth” was a constant theme for Q1 2021 revenue: Apple sales were +54% YoY to $90B while Amazon jumped 44% YoY to $108.5B.
While growth was slower for the other behemoths, their Q1 sales numbers are still huge: Alphabet ($55B), Microsoft ($42B), Facebook, ($26B). Those are Q1 sales!!
Perhaps the most jarring number?
FAAMG now makes up ~25% of the total value of the S&P 500 — 2x the share from 5 years ago. Wow.