Technology dominates world economy in 2017
Technology has maintained its dominance of world economy with market capitalisation reaching $3,582 billion between March 2016 and March 2017, according to latest report from PricewaterhouseCoopers (PwC).
The Global Top 100 Companies by Market Capitalisation report notes that smartphone manufacturer; Apple retained its pole position for the sixth year in a row with market capitalisation growth of 25 percent. The company also doubled the gap between its closest rival Alphabet, Google’s parent company with $175 billion.
Apple temporarily lost its position to Alphabeth in February 2016 for the first time, but regained afterwards. Apart from increasing market cap, Apple is also returning more money to shareholders than any company in the world, the PwC report notes. The company handed back $29 billion to investors in dividends and share purchases in Calendar year 2016.
Apple’s strong showing and Amazon‘s impressive growth in 2017 meant that the United States is the largest contributor to the Top 100, gaining $1,292 billion to reach $10,928 billion. The US also has the highest combined market capitalisation of national Global Top 100 companies ($10.9 trillion), a 13 percent increase since 31 March 2016.
Five core and none-core technology companies made the top 10 in the Top 100 list. Apart from Apple at the top, there were Alphabeth (2nd); Microsoft (3rd); Amazon (4th); and Facebook (6th).
Core technology companies also contributed about 20 percent of the list with a market capitalisation of $3,582 billion.
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