Tech is without a shadow of a doubt one of the most profitable sectors in the world with all things having been considered and taken into account. Earning over 1.3 trillion dollars in revenue over the past month, the top five companies in that industry manage to convert much of that into profit too. In fact, they earned no less than 300 billion dollars in profit last year, something that is notable because of the fact that this is the sort of thing that could potentially end up allowing them to grow even more than they have been able to do in the past.
With all of that having been said and now out of the way, it is important to note that the tech sector has received a major boost thanks to the pandemic. The profits for the Big Five have increased all round, with Alphabet (Google's parent company) almost doubling its profits with a 98% increase, and Apple, Amazon, Meta (Facebook's parent company) and Microsoft seeing 65%, 59%, 51% and 43% bumps respectively as well.
That means that these companies are absolutely huge, to the point where the vast majority of people might not even be able to fully understand how wealthy they truly are. In order to better understand something of this sort, you need to start breaking it down. If you were to look at tech company profits on a daily basis rather than annual, that might put into perspective the amount of money that these companies end up earning even during a year where virtually every other industry took a hit that will take them a really long time to recover from.
If you take a look at Apple, the company raked in over $3,000 dollars every single second over the course of the past year. That means that in under half a minute, Apple will have earned more than most lawyers from fancy universities would be able to make in a year!
We are living in a modern day and age where companies are seeing previously unheard of levels of profitability, and this has turned their stocks into some of the most valuable things that people can end up investing their money into. With these companies being so focused on expansion and growth, chances are that these increased profits are going to end up making people’s lives easier as well which could create a positive feedback loop that has never been seen before.
H/T: Statista.
Read next: Find Out What Sites Track Your Every Click, and What You Can Do To Stop Them
With all of that having been said and now out of the way, it is important to note that the tech sector has received a major boost thanks to the pandemic. The profits for the Big Five have increased all round, with Alphabet (Google's parent company) almost doubling its profits with a 98% increase, and Apple, Amazon, Meta (Facebook's parent company) and Microsoft seeing 65%, 59%, 51% and 43% bumps respectively as well.
That means that these companies are absolutely huge, to the point where the vast majority of people might not even be able to fully understand how wealthy they truly are. In order to better understand something of this sort, you need to start breaking it down. If you were to look at tech company profits on a daily basis rather than annual, that might put into perspective the amount of money that these companies end up earning even during a year where virtually every other industry took a hit that will take them a really long time to recover from.
If you take a look at Apple, the company raked in over $3,000 dollars every single second over the course of the past year. That means that in under half a minute, Apple will have earned more than most lawyers from fancy universities would be able to make in a year!
We are living in a modern day and age where companies are seeing previously unheard of levels of profitability, and this has turned their stocks into some of the most valuable things that people can end up investing their money into. With these companies being so focused on expansion and growth, chances are that these increased profits are going to end up making people’s lives easier as well which could create a positive feedback loop that has never been seen before.
Read next: Find Out What Sites Track Your Every Click, and What You Can Do To Stop Them