But step back and consider how much wealth Silicon Valley companies have generated in recent years.
Check out this chart by Bespoke Investment Group.
As Bespoke puts it:
At the Financial Crisis lows in March 2009, these four stocks had a combined market cap of just $325 billion. Now they combine to make up $3.5 trillion in market cap — more than 10x their total less than ten years ago. At the depths of despair in early 2009, investors were fleeing stocks when they should have been “buying low.”
In my view, these companies should be called “the fantastic four.”
I think the stock market rally that began in March of 2009 is one of history’s longest.
And, in my opinion, America’s tech giants are one big reason why.
- Xavier Brenner has covered global market, business and economic trends for Interactive Brokers Asset Management since 2013. An experienced financial journalist, Brenner offers analysis and insights on the stories that matter to the discerning investor.