Name: U.S. tech stocks are now worth more than the entire European stock market
Brand: cnbc.com
SKU: cnbc-com-866
Availability: OnlineOnly

critic

U.S. tech stocks are now worth more than the entire European stock market

preview

Key PointsThe dominance of major U.S. tech stocks in recent years has pushed the sector past another milestone as it is now more valuable than the entire European stock market, according to Bank of America Global Research.The firm said in a note that this is the first time the market cap of the U.S. tech sector, at $9.1 trillion, exceeds Europe, which including the U.K. and Switzerland is now at $8.9 trillion. For reference, the firm said that in 2007, Europe was four times the size of U.S. technology stocks.CNBC Tech Check Evening Edition: August 28, 2020Tech pulling ahead of the European continent comes as the U.S. market has become increasingly concentrated in mega-cap tech stocks, worrying some market strategists. The five biggest tech names — , , , and — , and the rotation into tech during the has pushed that number well above 20%.&nbsp;Consumer tech goliath Apple is worth more than $2 trillion by itself.The run for Amazon might be the most stunning of the group. The company has been growing into a dominant force in e-commerce since the 1990s, but the explosion of the cloud computing industry has helped its stock surge over the past decade. Its share price was about 20 times higher on Thursday than it was in August 2010.Tech overtaking Europe is also reflected in the overall performance of the U.S. and European markets. Since the beginning of 2010, the has gained nearly 200%, while the has risen 13.4% and the U.K.'s&nbsp; has gained just under 11%.&nbsp;To be sure, market cap measures only the equity value of companies and excludes debt. The U.S. tech stocks also have large international businesses and do not derive all of their value from the American economy.&nbsp;

Key PointsThe dominance of major U.S. tech stocks in recent years has pushed the sector past another milestone as it is now more valuable than the entire European stock market, according to Bank of America Global Research.The firm said in a note that this is the first time the market cap of the U.S. tech sector, at $9.1 trillion, exceeds Europe, which including the U.K. and Switzerland is now at $8.9 trillion. For reference, the firm said that in 2007, Europe was four times the size of U.S. technology stocks.CNBC Tech Check Evening Edition: August 28, 2020Tech pulling ahead of the European...

public

Jesse Pound

cnbc.com

Credible

Speculation

Anecdotal Evidence

Generalization

Stacking the Deck

Appeal to Authority

Straw Man

Slippery Slope

Emotional Appeal

Red Herring

False Dilemma

Illogical

Moral Equivalency

Ad Hominem

Correlation w/o Causation

Semantics

Begging the Question

Faulty Analogy

Non Sequitur

Bandwagon

Dogmatism

Failing Occam's Razor

Biased

Pure Opinion

Hit Piece

Racial Bias

National Bias

Religious Bias

Financial Incentive

Political Agenda

Gender Bias

Misused Image/Video

Study Misinterpreted

Mistake

Misused Term

Science Misrepresented

Factual Error

Satire

Surface Level

Lack of Reliable Sources

Sensational

Not Credible

Investigative

Balanced

Well Sourced

Great Context

sports

entertainment

U.S.

international

business

technology

science

culture

politics

media

health

U.S. tech stocks are now worth more than the entire European stock market

No article scores yet.

CRITIC REVIEWS

PUBLIC REVIEWS