Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., March 20, 2020.Lucas Jackson | ReutersThe four biggest tech comp
Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., March 20, 2020.
Lucas Jackson | Reuters
The four biggest tech companies are each worth more than $1 trillion, a landmark that was last reached before the Covid-19 pandemic struck the U.S.
The landmark shows the resilience of the tech industry in the face of a global pandemic, recession and record unemployment.
Alphabet was the latest to re-enter the trillion-dollar club, reaching $1.02 trillion in market value during trading on Monday. Apple was valued at $1.63 trillion, followed by Microsoft at $1.61 trillion. Amazon, which has largely benefited from stay-at-home orders that battered most companies, was valued at $1.48 trillion in early trading.
The valuations were boosted by a strong morning for U.S. markets. The Dow Jones Industrial Average was up 1.7%, while the S&P 500 gained 1.4%. The tech-heavy Nasdaq Composite jumped 1.6% to an all-time high.
The technology giants first reached the milestone in late January and held onto gains into February, before the pandemic caused markets to plummet.