London Daily

Focus on the big picture.
Friday, Oct 02, 2026

Tech's top seven companies added $3.4 trillion in value in 2020

Tech's top seven companies added $3.4 trillion in value in 2020

Big Tech got much bigger in 2020, and Tesla joined the pack of mega-cap tech stocks after climbing ninefold.

Tech’s biggest companies just wrapped up a huge year.

The seven most valuable U.S. technology companies — Apple, Microsoft, Amazon, Alphabet, Facebook, Tesla and Nvidia — picked up a combined $3.4 trillion in market cap in 2020, powering through a global pandemic and broader economic crisis.

Between continued optimism over iPhone sales, Microsoft’s growing Teams collaboration product, Amazon’s ongoing control of e-commerce and the strength of Google and Facebook’s online ad duopoly, Big Tech was neither slowed by 1Covid1-19 nor the rising number of investigations into its dominance.

Tesla’s wild rally served as the biggest surprise.

The stock climbed almost ninefold this year, lifting the electric car maker’s market cap from $76 billion at the beginning of the year to $669 billion at Thursday’s close. Despite initial factory closures due to the pandemic, Tesla bounced back to deliver a record number of vehicles in the third quarter.


Tesla led tech stocks in 2020


This month, Tesla became the largest-ever addition to the S&P 500, joining the index with the fifth-heftiest weighting after turning in five straight profitable quarters.

Meanwhile, chipmaker Nvidia more than doubled in value in 2020, closing with a market cap of $323 billion, making it the seventh most valuable tech company and number 16 overall in the U.S. Nvidia’s graphics processors for gaming devices have been flying off the shelves so quickly that the company has struggled to keep up with demand.

Nvidia’s chips are also gaining traction in the data center, where enhanced workloads require faster speeds. In September, Nvidia agreed to buy mobile chipmaker Arm Holdings from SoftBank for $40 billion, the second-largest deal announced by a U.S. tech company this year. However, Chinese regulators could still block it.

By far the biggest increase in market cap went to Apple, which jumped by almost $1 trillion in value, thanks to its stock climbing 81%. Amazon, which benefited from growth in its consumer and cloud-computing business, rose by $710 billion. Microsoft picked up $480 billion, while Alphabet gained $268 billion and Facebook $193 billion.

The gains are clearly reflected in the ranks of the richest people. Amazon’s Jeff Bezos is the wealthiest person in the world, followed by Tesla’s Elon Musk and Microsoft co-founder Bill Gates. Facebook CEO Mark Zuckerberg is fifth. Also in the top 10 are Google founders Larry Page and Sergey Brin and Microsoft ex-CEO Steve Ballmer.

Newsletter

Related Articles

0:00
0:00
Close
UK Councils to Receive Sweeping Planning Powers to Ban New Vape and Betting Shops
Chancellor John Healey Faces Tax and Pension Scrutiny Ahead of Autumn Budget
Metropolitan Police Apologise for Accidental Disclosure in High-Profile Investigation
UK Universities Report Record International Enrolment as Housing Pressure Grows
UK Logistics Firms Monitor Rhine Disruption as Low Water Threatens European Supply Chains
UK Food Industry Warns Inflation Could Approach 7%
UK Introduces Vaping Duty and Mandatory Retail Stamps
Scotland Raises Property Taxes and Expands Child Payment in Annual Budget
Greggs Plans Four Factory Closures With 740 Jobs at Risk
OECD Raises UK 2026 Growth Forecast to 1.1%
UK Inflation Rises to 3.1% as Bank of England Faces Rate Debate
Andy Burnham Criticises Brexit and Says Rejoining EU Single Market Remains an Option
UK Imposes New Sanctions on Russian Military Networks and Propagandists
UK Launches Nationwide Early-Release Prison Scheme
Andy Burnham Says Security Services See Signs of Iranian Involvement in RAF Fairford Incident
Manchester City Found Guilty on Premier League Financial Charges After Independent Investigation
Scottish Court to Rule on Bid to Force No-Confidence Vote Against Aberdeen Council Co-Leader
UK Bans Extra Charges for Seating Children Under 12 Beside Accompanying Adults
UK Introduces Vaping Duty and New Licensing Requirements
Greggs to Close Four UK Factories and Cut 740 Jobs
Hundreds of Prisoners Released Early as England and Wales Prisons Reach 98% Capacity
UK Unveils New Russia Sanctions Targeting War Funding and Shadow Fleet
Burnham Says There Are Strong Indications of Iranian Involvement in RAF Fairford Security Breach
Prime Minister Andy Burnham Raises Prospect of Reviewing Britain's Post-Brexit EU Relationship
Markets Price in Bank of England Rate Increases as Inflation Rises to 3.1%
UK Borrowing Costs Climb Toward 5.5% as Global Bond Sell-Off Intensifies
UK-France One-In-One-Out Migration Agreement Expires as London Seeks Alternative Measures
Southwest England Faces Flood Alerts After Heavy Autumn Storms
UK Expands Funding for Rapid Electric Vehicle Charging Infrastructure
Welsh Government Approves Funding to Upgrade South Wales Transport
Northern Ireland Tensions Rise as Orange Order Rejects Drumcree Compromise
NHS Leaders Back Early Design of Proposed National Care Service
More Than One-Third of Regional UK Universities Face Financial Deficits
UK Current Account Deficit Narrows as Cross-Border Financial Flows Remain Strong
Bank of England and FCA Issue New Rules for Stablecoins and Digital Assets
MI5 Warns UK Universities Over Research Links With Chinese Institutions
UK Energy Price Cap Rises 4% as Electricity VAT Is Temporarily Suspended
Equity Calls for UK Personality Rights to Protect Performers From AI Replication
OpenAI Pauses Advanced Model Training Following Safety Concerns
Scottish Government Proposes Replacing 32 Councils With Larger Regional Authorities
Ofgem Raises UK Household Energy Price Cap by 4% From October
UK Counter-Terrorism Police Continue Investigation After Five Arrests Near RAF Fairford
OECD Cuts UK 2027 Growth Forecast to 1%
Labour Says State Pension Triple Lock Remains Protected Through Current Parliament
Andy Burnham Pledges National Care Service With Free Social Care in England
Six Flags Permanently Shuts Landmark X2 Roller Coaster Following Safety Scandals
Metropolitan Police Rule Out Terrorism in Golders Green Stabbing Investigation
Lithium-Ion Battery Identified as Cause of Fatal Merseyside House Fire
UK Department Rejects New Sea Use Framework Due to Stakeholder Fatigue
Major Thames Water Pipe Burst Causes School Closures in London
×