A glimpse into the future?
The FT recently ranked the 100 public companies that prospered during the pandemic in what has been a surprisingly robust stock market. The article, Prospering in the pandemic: the top 100 companies ranked them looking at equity value added. Healthcare, Big Tech and Retail sectors top the chart.
#1 Amazon, US, $401.1bn market cap added
#2 Microsoft, US, $269.9bn market cap added
#3 Apple, US, $219.1bn market cap added
#4 Tesla, US, $108.4bn market cap added
#5 Tencent, China, $93bn market cap added
More interesting and eye-opening is when we look at the ranking by country. The US and China clearly dominate and dwarf other countries. The UK and Europe suffer a low representation, confirming that the global forces of big tech and innovation are not harnessed to their full potential in these countries which risk becoming spectators of the giant economic battle between the US and China. The pandemic may be widening the gap faster than expected.
Number of companies by country in the top 100 companies during the COVID pandemic
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