U.S. tech stocks have been pushing the stock market to record highs, and now the sector has now become more valuable than the entire European stock market for the first time in history, according to the latest research from Bank of America.KEY FACTS
In 2007, by comparison, the European market was four times the size of the U.S. tech sector, the firm said. The five biggest companies—Apple, Microsoft, Amazon, Google-parent Alphabet and Facebook—account for 23.8% of the S&P 500, according to Howard Silverblatt, senior index analyst at S&P Dow Jones Indices.
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U.S. tech stocks are now worth more than the entire European stock marketThis is the first time the market cap of the U.S. tech sector, at $9.1 trillion, exceeds Europe, which including the UK and Switzerland is now at $8.9 trillion, according to Bank of America. dahboo7 I can hear the money printers going now. How long can they prop this up? Bubble
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