If they were a country, they would be the fifth-largest in terms of economic output, outgunning Britain and snapping at Germany’s heels. With a $3.9 trillion market value (versus around $100 billion in January 2010), tech giants Facebook, Amazon.com, Apple, Netflix, and Google-owner Alphabet — collectively known as the FAANG — are not only at the vanguard of history’s longest share bull run but have transformed how humans work, shop, consume news and relax.
FAANG comprise 7% of the MSCI global equity index today, up from around 1.6% in early 2010. The savvy investor who sank $25,000 in Netflix in 2009 would now be sitting on $1 million. And in the slipstream of the five pioneers, other tech titans are rising, from China’s BAT grouping of Baidu, Alibaba and Tencent to the sector “disrupters” Uber, Airbnb, and Deliveroo. For better or worse, the world — and markets — have changed forever.
Stock Returns in the past decade