In transient: Big Tech, should you haven’t seen, is having a monster yr. Five of the highest US-based tech firms – Apple, Alphabet, Amazon, Facebook and Microsoft – have reported almost $1.2 trillion in mixed income so far in 2021.
According to The New York Times, that’s greater than 25 % greater than the identical interval final yr when the pandemic began to ramp up and is equal to just about 5 % of the US gross home product.
Amazon in its most up-to-date earnings report mentioned it generated $108.5 billion in gross sales throughout the three-month interval ending March 31. Apple recorded report income of $89.6 billion and Facebook raked in $26.2 billion. Microsoft just lately posted its greatest quarterly improve since 2018.
As The Times appropriately highlights, America’s tech superpowers aren’t essentially making huge financial institution regardless of the pandemic, however have grown sturdy as a result of of it. When stay-at-home orders kicked in, hundreds of thousands turned to tech to work and be taught remotely. And latest stimulus checks have put more cash in individuals’s pockets, a few of which has undoubtedly been used to fund new tech purchases.
Tech firms have additionally taken time throughout the pandemic to trim extra fats from their budgets, making them “lean, mean and ready for a US economy expected to roar back to life in 2021.” How lengthy they’ll have the ability to maintain this momentum, nonetheless, stays unclear. The solely certainty is that nothing is for certain.