Sign In  |  Register  |  About Mill Valley  |  Contact Us

Mill Valley, CA
September 01, 2020 1:29pm
7-Day Forecast | Traffic
  • Search Hotels in Mill Valley

  • CHECK-IN:
  • CHECK-OUT:
  • ROOMS:

Varney: Big Tech companies are the 'crown jewels' of American business

FOX Business' Stuart Varney says American Big Tech companies Apple, Nvidia, Microsoft, Google, and Amazon are leading the world into the digital revolution.

During his "My Take," Thursday, "Varney & Co." host Stuart Varney praised the success and wealth accumulated by America's technology companies despite pushback from the left because they can't control or regulate Big Tech money.

STUART VARNEY: They are the crown jewels of American business. 

They have accumulated vast wealth because they are good at what they do. 

NVIDIA TOPPLES APPLE WITH $3 TRILLION MARKET CAP; 10-FOR-1 STOCK SPLIT AHEAD

They are leading the world into the digital revolution, which has become the A.I. revolution.

It's good to see American companies out front. 

Microsoft is the most valuable of all. $3.151 trillion at Wednesday's closing price. 

NVIDIA has jumped into second place at $3.011 trillion. Apple is third at $3.003 trillion.

US SPIES TO USE SECRETIVE AI SERVICE FROM MICROSOFT

Google is fourth at $2.167 trillion and Amazon at $1.886 trillion.

Add it up and the crown jewels are worth just over $13 trillion.

It is hard to wrap your arms around that much money, but investors love it. 

According to Gallup, 162 million Americans own stocks. That is 62% of all the adults in the country. 

Almost all of them have a piece of the Big Tech action. 

The stock market has been a giant wealth creation machine.

YELLEN TO WARN OF ‘SIGNIFICANT RISKS’ OF AI IN FINANCE WHILE ACKNOWLEDGING ‘TREMENDOUS OPPORTUNITES’

Of course, that makes these companies unpopular in some quarters. 

The left isn't happy because the wealth isn't spread around evenly, and because Big Tech's money is private, so they can't control it. 

Worse, Big Tech is largely non-union. The horror. The Europeans don't like it, because they can't compete.  

The regulators don't like it because it's just, well, big and therefore monopolistic.

There are Republicans who don't like it because tech tends to be "woke." 

But what you can't deny is the success of American technology.

FOR MORE FOX BUSINESS CLICK HERE

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
 
 
Copyright © 2010-2020 MillValley.com & California Media Partners, LLC. All rights reserved.