- The four leading technology stocks have all surpassed a one trillion dollar market cap, reaching a landmark first seen at the end of January.
- Alphabet was the latest to enter the trillion-dollar club.
The four biggest tech companies finished the day each worth more than $1 trillion, a landmark that was last reached before the Covid-19 pandemic struck the U.S.
The landmark shows the resilience of the tech industry in the face of a global pandemic, recession and record unemployment.
Alphabet was the latest to re-enter the trillion-dollar club, reaching $1.02 trillion in market value at the close of trading. Apple was valued at $1.64 trillion, followed by Microsoft at $1.61 trillion. Amazon, which has largely benefited from stay-at-home orders that battered most companies, was valued at $1.52 trillion as of market close.
The valuations were boosted by a strong day for U.S. markets. The Dow Jones Industrial Average rose 459 points, or 1.78%, while the S&P 500 finished up 1.59%. The tech-heavy Nasdaq Composite jumped 2.21% to an all-time high.
The technology giants first reached the milestone in late January and held onto gains into February, before the pandemic caused markets to plummet.