“Now, as we turn to the healthy companies to help us revive the economy, it could be that the only ones with real immunity are the tech giants. In this way, Covid-19 has accelerated their rise and tightened their grip on our lives. And this consolidation of power, combined with Big Tech’s control of data, automation, robotics, artificial intelligence, media, advertising, retail and even autonomous tech, is daunting.”
Big Tech stocks, which were hit in the first weeks of the pandemic, are on an upward march to the top of the market-cap heap. Microsoft at $1.32 trillion. Apple at $1.26 trillion. Amazon at $1.14 trillion. Alphabet at $900 billion. Facebook at $577 billion. This group now makes up just over 20 percent of the S.&P. 500, which is a flashing yellow signal of what is to come.
Excerpted from
The Immunity of the Tech Giants
By Kara Swisher May 1, 2020 New York Times
