The COVID-19 pandemic is having a profound impact on various sectors of the economy and technology is no exception. production reductions, logistical limitations and event cancellations add to investors 'fears, causing companies' market share to plummet. Currently, Microsoft and Apple are the only technological giants that remain in the Trillion Dollar Club.
The latest data from Statista show that, between February 21 and March 23, the four American technology companies that had once reached the 1 billion dollar mark (a trillion in American values) in market value all had sharp losses on the stock exchange.
Since February 21, when COVID-19 began to spread rapidly to territories outside China, Apple has lost almost $ 400 billion in market capitalization. Although it had a brief departure from the Trillion Dollar Club on March 23, the Cupertino giant re-entered the following day. According to the New York Stock Exchange, the company's shares rose 10.3%, bringing them to $ 246.88 at the close on March 24.
Although it recorded losses of around 324 billion dollars, Microsoft maintains its market capitalization at the 1 billion dollar mark. The company was not as affected as Apple, which was forced to close factories in China, a country that plays an important role in its production chain and its revenues. In addition, since the vast majority of people are now working or studying at home, Microsoft has seen a marked increase in the use of the Cloud tools included in Office 365 and digital telecommuting platforms such as Teams.