as the the u.s. stock market closed on monday,amazon and facebook passed exxon mobile in market capitalization,... making them thefourth and fifth most valuable public companies following apple, alphabet and microsoft. that means... for the first time ever... thefive most valuable public companies in the world,...are all tech companies.
apple stock price decline, our kim hye-sung tells us if this trend islikely to continue. apple, alphabet, microsoft, amazon and facebook. these silicon valley tech giants are now theworld's five most valuable companies. at the close of u.s. trading on monday, amazonand facebook surpassed exxon mobile to become
the world’s fourth and fifth most valuablefirms based on market capitalization. the switch came a week after exxon revealedtheir profits had tumbled 59 percent last quarter, leading to a more than three percentdrop in the company's market capitalization on monday. the oil giant has struggled amid falling oiland natural gas prices over the last couple of years, with its revenue dropping by 142billion u.s. dollars between 2014 & 2015. and oil prices slipped below the psychologicallyimportant level of $40 a barrel on monday, further pulling down exxon's stock price. on the other hand, amazon posted its fifthstraight quarter of profit, the biggest revenue
increase in four years, thanks to its growingcloud computing business, moving up from seventh to the fourth most valuable company. all four other tech companies' earnings beatmarket expectations. while apple's revenue between april and junefell 15 percent from the same period last year due to falling iphone sales, it stillbeat market expectations and secured its position at number one. google's parent company alphabet and microsoftcame in second and third, driven by their mobile ad sales and cloud business respectively. facebook came in 5th, with its net profitincreasing 186 percent year on year, recording
more than 2 billion dollars, also driven bymobile advertising. -"tech companies are leading the stock market in the u.s. and korea. as oil prices remain low and most investmentsare in the tech industry right now, it companies are going to continue posting stellar earnings,and this trend is likely to continue for a while." but just ten years ago, the top ten most valuablepublic companies were mainly banks like aig, citygroup and bank of america, with only onetech company,...microsoft on the list. so tech companies will have to keep innovatingto keep their lead in the stock market.
kim hyesung, arirang news.
