Due to the intermittent lockdowns and restrictions imposed on people there’s a considerable rise in online activity.
More online activity has tremendously benefited the big technology companies such as Facebook, Amazon, Apple, Tesla, Microsoft, Alphabet, and Netflix.
The combined market cap of the FAATMAN stocks is now over $8 trillion. To put it into perspective, that’s about equivalent to Germany, Canada, and France’s GDP combined.
The company saw the record sales in March quarter in its history earning over $691,234 per minute as net profit more than doubled to $23.6bn.
Robust sales of the company’s 5G-enabled iPhone 12 series underpinned a 54 per cent year-on-year increase in revenue. The company also achieved double-digit growth in sales of its iPads and Macs.
Social networking company Facebook netted more than $201,936 per minute in the three months to March 31. Facebook has approximately 1.88 daily active users.
Alphabet, the parent company of Google, is a behemoth. They finished 2020 with $182 billion in revenues, with approximately $20 billion coming from YouTube.
Furthermore, beyond 4.6 billion Google searches occur every single day, making it the most popular website in the world.
Alphabet earned $426,805 per minute on the back of strong growth in its Google Services business.
Although the U.S. remains their most prominent market for Amazon.
The tech gaint also does considerably well in other parts of the world. For example, in 2020 they generated $20 billion in revenues from Japan, and $29 billion from Germany.
As Covid-19 boosted online shopping globally, e-commerce giant earned more than $837,100 revenue per minute in the first quarter as its net profit for the period more than tripled to $8.1 billion.
The world’s biggest EV maker, Tesla, delivered a record 184,800 cars in the first quarter despite a global shortage of chips, earning the company more than $79,475 per minute in the first quarter.
The growing EV narrative is a large part of what’s driven Tesla to new heights. The company graduated to the prestigious S&P 500 and also earned Elon Musk the title of richest man on the planet earth.
Microsoft’s diversified business holdings include Bing, LinkedIn, Xbox, and their cloud computing service Azure.
Microsoft earned $321,759 per minute on strong cloud, gaming and personal computing business growth as well as a net income-tax benefit of $620 million.
Apple is no longer just about the iPhone. In the first quarter of 2021, Apple’s services segment of the business made $15.7 billion in revenue, greater than both Mac and iPad, which each contributed about $8 billion to the business. In addition, their wearables, home, and accessories category made $12.9 billion in revenue.
The world’s largest streaming company made $54,783 per minute despite subscriber growth falling to an eight-year low due to coronavirus-induced production delays.