Tech Overtakes Finance Among Top Global Companies (cityam.com) 33
An anonymous reader writes:Technology has stolen a march on finance, with the success of companies such as Alphabet and Microsoft helping the innovative sector surpass the traditional world of financial services among the world's top 100 companies over the past year. Technology firms in the list notched up a combined value of $3bn compared to financial firms' $2.7bn and the $2.6bn value of consumer goods companies. Apple held its position at the top of the ranking, compiled by PwC, despite losing $121bn in market value over the past year to the end of March, and the overall value of the world's top 100 firms falling four per cent -- the most significant decrease since the financial crisis, with a cash value of $668bn. Alphabet closed the gap on Apple in second place, narrowing its market capitalisation from $350bn to just $86bn, while Microsoft rounded out the top three. Facebook was in sixth position while Amazon entered the top 10 for the first time. Tech firms have better weathered more choppy conditions in the global markets, particularly conditions in China and Europe's struggle with economic growth.
Re: One in the same (Score:3)
There is something weird with the source link (Score:3)
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Another shit website that won't show its content unless you agree to expose yourself to malware (i.e., disable adblocking). Fuck You. Stop linking to sites which demand that people expose themselves to malware.
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Nobody wanted to hear it (Score:1)
When many of us said silicon valley had supplanted wall street and the banks, well, here you go. They are somehow even less ethical than the old guard, too. Would be nice if we cared at all about regulation in the USA, *THIS* is what Senator Warren should have been focused on. It is not a a normal market with regular old companies anymore, and hasn't been for years.
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Neither technology nor finance is. Essentially, you have two snakeoil peddlers, one selling your hopes, one selling your privacy, competing over being the top dog with companies that really sell you something (instead of just selling you) standing at the sidelines.
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Freedom for the strong? Well, let's go have another war fought by the poor to enrich the few!!
The people who should be "Shocked" and "Awe"d by our warmongering are the people who are profiting from it.
And there you find Finance and Tech, sucking up the profits in boxloads
No one at NSA had to create the fiber-break router-intercept boxes.
Finance paid for them, and Tech built them ON SPEC, hoping for the profits
And as Sno
Diff btw billion & trillion (Score:1)
Look it up.
Billion trillion (Score:3)
$3 bil value? That's a swing in Apple's quarterly profits, not an industry's value.
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$3 bil value? That's a swing in Apple's quarterly profits, not an industry's value.
That doesn't make any sense. That's like comparing apples and cars.
Quarterly profits is a measure of income. Value is a measure of base value. In addition, Apple as stated in the summary has lost $121B in value as their stock price has gradually declined for a solid year. The $3B is a trend up in total value of tech companies, which is notable given the gradual downturn of Apple, the anticipated market depreciation, and the Brexit sending all stocks down.
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Read again. Market value is typically 10-50 the profit (PE), not the other way around.
Finance joke (Score:5, Insightful)
Q: What's the difference between a bank and a tech company?
A: The bank has smaller financial reserves.
As others have pointed out here, tech companies are banks. And banks are tech companies. They are both just mechanisms for siphoning off your wealth and productivity.
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Now THAT'S how you run a campaign. Not a stupid campaign, but a smart campaign. With the best people. And a social media strategy that's so terrific it'll make your head spin. A classy, classy social media strategy.
"Technology" already surpassed finance. (Score:4, Insightful)
If car, airplane, and defense companies are added. Are these not considered "technology"? Is an F-22 not considered "technology" anymore? Why does software and computer hardware only get counted as "technology"?
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On the other hand, Google gets 98% of its revenue from advertising, just like newspapers and magazines. Nobody calls Time Magazine a technology company, so why Google?
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On the other hand, Google gets 98% of its revenue from advertising, just like newspapers and magazines. Nobody calls Time Magazine a technology company, so why Google?
Because they're not at all the same. Just because they earn revenue from the same monetization scheme does not mean they are correlated.
TIME Magazine produces content for readers to consume and in that consumption they sell space in their publication for others to show off their products, but the consumers of TIME show up for the content produced by TIME. TIME is affected by changes in how consumers consume news and media and overall shifts in the publication business. They can improve their business by
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"FinTech" = bullshit (Score:2)
Companies prattling on about being "leaders in the fintech space" are simply selling huge heaping piles of bullshit. Just like "cloud" and CRM salescreatures of prior years.
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This post brought to you by your friends at Gartner Group.
Innovative? Hardly! (Score:1)
Most of the money is made from lawsuits and patent/copyright trading. That is the major "innovation" of this industry.