After losing hundreds of billions of dollars in 2022, the third-hardest year for the tech sector since 2008, the tech giants showed impressive performance in 2023.
According to data presented by Stocklytics.com, Apple, Microsoft, Alphabet, Amazon and Meta have collectively added $3.9trn to their stock value in 2023 – the highest figure in the market’s history.
Tech stocks have dominated the 2023 stock market performance. The rise of AI, combined with the improving economy and slowing inflation, has helped the sector come into the spotlight, with many investors jumping back on the tech train.
The Nasdaq jumped 32% in the first six months of the year, powered by Apple’s rally and Nvidia’s boom, marking its best first half in the past 40 years.
But the tech stock’s price rally has continued ever since, helping the largest players in the market to add trillions of dollars to their stock values.
The YCharts data also show Meta was the best performer in the Big Tech group.
After losing two-thirds of its stock value in 2022, Meta’s market cap has surged by 188% year-over-year – the biggest increase among the Big Five tech giants.
In December 2022, Meta’s stock value was $315.5bn, and now it’s over $908bn.
Amazon witnessed the second-largest increase of 84%, Driving its market cap to over $ 1.5 trillion – the figure last seen in mid-2022.
Statistics show Microsoft’s and Alphabet’s market caps jumped by 55% year-over-year, helping the two companies add more than $1.6trn in value.
Apple stocks have jumped 45% since last December, surpassing $3trn in market cap.
