Despite the decline in the world’s economy, FANGMAN stocks continue to increase. The collective market value of these seven firms has reached $7.3 trillion.
Despite the disruptions caused by the ongoing pandemic, FANGMAN stocks have been surging significantly. As of the 11th of June, FANGMAN stocks representing the seven biggest tech companies in the stock market, have climbed 22% to $6.4 trillion in 2020.
FANGMAN stands for Facebook Inc (NASDAQ: FB), Apple Inc (NASDAQ: AAPL), Nvidia Corp (NASDAQ: NVDA), Google LLC (NASDAQ: GOOGL) (NASDAQ: GOOG), Microsoft Corporation (NASDAQ: MSFT), Amazon.com Inc (NASDAQ: AMZN), and Netflix Inc (NASDAQ: NFLX). Coinspeaker earlier revealed that the seven firms’ collective market capitalization was nearly $4.2 trillion in 2019.
Facebook launched in 2004 by Mark Zuckerberg, who was a Harvard student at that time. The initial purpose of creating the social media platform was to connect Harvard students. Over the years, Facebook has grown commendably, with over 2.7 billion monthly active users as of 2020 Q2. Currently, at a premarket trading price of $269.46, Facebook has a $759.53 billion market capitalization. Macrotrends also revealed that the FB market cap as of the 14th of September was $759.52 billion.
Apple is an American multinational technology company founded by Steve Jobs, Steve Wozniak, and Ronald Wayne in April 1976. Since the company went public in 1980, it has grown to become the world’s largest technology company. At the moment, AAPL is at premarket trading and boasts of a market cap of $1.92 trillion. This is an increase over yesterday’s market cap of $1 trillion.
Nvidia Corp. was founded in 1993 by Jensen Huang, Chris Malachowsky, and Curtis Priem. The technology company focuses on personal computer (PC) graphics, graphics processing unit GPU), and artificial intelligence (AI). NVIDIA is currently at a premarket trading price of $523.11, a 1.60% addition over its previous price of $514.89. With a $300.22 billion market cap at its last close, NVDA’s valuation remains unchanged.
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Google LLC started in 1998 by Larry Page and Sergey Brin. The limited liability company specializes in internet-related services and products. Since its initial public offering on the 19th of August, the Alphabet Inc. major subsidiary has developed to now offer a variety of services. Some of its services include Google Search, Gmail, Google Drive, Google Translate, Google Maps, Youtube, and more. Currently, Google is at premarket trading and has a market cap of $1.03 trillion. This shows an increase in GOOGL as its market cap was at $1 trillion yesterday.
Microsoft Corporation develops computer software and applications. The technology company is ranked 21st in the 2020 Fortune 500 rankings of the largest US corporations by total revenue. At the moment, MSFT is $205.41 in premarket trading and has a $1.54 trillion valuation. Yesterday, the company’s market cap was much less at $1 trillion.
Amazon, which started in Jeff Bezos’ garage, is the world’s largest online retail service provider. At the moment, Amazon is at premarket trading with a $1.56 trillion market cap, jumping from $1 trillion just yesterday.
Netflix is a streaming service that gives members access to watch TV shows and movies based on their subscription plan. According to Macrotrends report, Netflix’s market cap was $212.58 billion yesterday. The NFLX price is up 1.76% in premarket trading, at $484.65. However, its market cap remains unchanged.
Tolu is a cryptocurrency and blockchain enthusiast based in Lagos. He likes to demystify crypto stories to the bare basics so that anyone anywhere can understand without too much background knowledge.
When he’s not neck-deep in crypto stories, Tolu enjoys music, loves to sing and is an avid movie lover.