Three of the top companies by market capitalization in the US are technology companies established after 1970 that make waves in the global markets until today.
Consumer technology giant Apple has the largest market capitalization of $750billion in the US markets followed by Google ($443B), Microsoft ($368B), Facebook ($269B), Amazon ($247B), Oracle ($246B) and Cisco ($144B). Other technology and internet-based operations majors are SAP ($86.39B) and eBay ($35.12B).
The US technology and internet companies' market capitalization has soared significantly. Among the top 100 global companies by market capitalization, technology companies lead the pack as they grew since 2009 after the global economy recession.
The technology firms that made it to top 20 are Apple and Google, occupying the first and second places, respectively; followed by Microsoft at fifth, Facebook Inc placed at 17th.
Apple and Google significantly improved their rankings since 2009. Apple rank in 2009 was 33 and Google's rank was at 22. Both majors soared to first two positions in 2015 rankings. Microsoft moved up by one step from sixth position in 2009 to fifth position 2015.
For instance, Apple's market capitalization grew from $461.41 billion in 2014 to $750.03 billion in 2015. Apple's market capitalization increased eight times since 2009.
US tech companies are known for its ncompromised innovation coupled with fearless culture that fuelled the growth of US technology companies. Add to this, the abundant supply of venture capital, industry-friendly employment laws and policy support from the US government are the major pillars of the successful technology revolution in the America.
According to a joint study by the Bay Area Council Economic Institute and Booz &Co, the ability to integrate innovation strategies with the business strategies is the success mantra of Silicon Valley.
The beauty of the US Silicon Valley is that technology companies allow employees to leave and experiment something new. If it's a success, then mother company will acquire it. If it doesn't work out, then companies hire them back. Perhaps, this paved the way for lot of experiment that resulted in innovation in the technology sector.
Barring IBM, which was set up in 1911, all the remaining companies topping market capitalization were established after 1970. Most recently founded include Facebook, which was set up in 2004, Amazon in 1994 and Google in 1998.
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