Despite the challenges posed by geopolitical issues and the rate hikes, the top 25 technology companies across the globe gained more than $2.4 trillion in valuation in the first quarter (Q1) of 2023, according to a report by GlobalData, a leading data and analytics company.
Meta, Apple, Amazon, Microsoft, and Google (FAAMG) stocks contribute more than 60 per cent of the tech stocks with $7.7 trillion.
FAAMG stocks posted more than 15 per cent growth in market capitalisation (m-cap), in which Meta topped the list with 72 per cent quarter-on-quarter (QoQ) growth in Q1 2023. The semiconductor sector recovered in the first quarter with Nvidia, TSMC, Samsung, Texas Instruments and Intel posting substantial growth. Nvidia outperformed all the other companies in the top 25 global tech stocks.Tata Consultancy Services is the only Indian firm in the list.