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Facebook stocks have expanded by close to 30% in 2021 as the social media company surpasses $ trillion in valuation. Facebook is not the only Tech firm hitting new strides, according to a report released by CNN Business on Tuesday.
Microsoft has outgrown the $2 trillion valuation, joining Apple Inc. in that rare territory. Amazon and Alphabet are close to reaching the $2 trillion market capitalization as well.
FAANG (Facebook, Apple, Amazon, Netflix, and Goggle) adding Microsoft and Tesla have a cumulative valuation of $9.6 trillion.
The value of the Big techs accounts for 25% of the total $38.4 trillion market capitalization of all companies listed in the S&P 500.
Initially, in 2021, Big Techs underperformed as Wall Street focused on value stocks to outperform economic growth. Investors were not concerned about the slowdown of the tech stocks despite the issues of increased regulations.
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