Four of the world's five technology giants have a market value of more than trillion dollars. Although the five technology companies (Amazon, apple, Facebook, Microsoft and alphabet) have many similarities, their growth trajectory is quite different. Some companies have diverse applications, cloud services, products and data accumulation, while others focus on a single area.
But these large technology companies have surpassed large oil and other major industry groups to become the world's most valuable listed companies. And led the technology stocks based NASDAQ to a new high.
However, data security, personal privacy and employee treatment have become a global hot issue. Still, it hasn't stopped the tech giants from achieving huge revenue growth.
Overall, more technology applications are the biggest driver of revenue growth.
Amazon has the highest total revenue compared with last year, and almost all of its businesses have seen significant growth. Revenue from online sales and third-party seller services increased by nearly $30 billion, while revenues from Amazon Web services and Amazon Prime combined increased by $15 billion.
The only piece of Amazon's cake that hasn't grown is sales in physical stores. Previously, physical stores were the fastest growing part, but now they have stagnated.
Huge revenues of technology giants (2019 and 2018)
Services and advertising are also driving revenue growth for other large technology companies. Alphabet's advertising revenue from Google real estate and the Internet increased by $20 billion. At the same time, Google's cloud computing has continued to be adopted and developed into its $8.9 billion market segment.
More service adoption and ad integration is a huge boost for ad driven Facebook. Facebook added $20 billion in revenue, mainly because of the continued growth in average revenue per user.
Differences between technology giants
Apple is the only company that hasn't seen significant revenue growth, but it has done so in some revenue areas.
However, with a net income of $55.2 billion, apple is still ahead of other large technology companies in terms of net income and market value.
Revenue, net profit and market value of technology giants
They may have different sources of income and profit margins, but these have grown from upstarts in Silicon Valley to global powers.
In 2019, the combined revenues of these technology giants are close to $900 billion, more than the GDP of four of the G20 countries. By contrast, the earnings of large technology companies will make them the 18th largest country by GDP, ahead of Saudi Arabia and second only to the Netherlands.
And it seems that these tech giants are still showing no sign of stopping. How much money can they make in the future?