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The stock market now has two $1 trillion companies: Amazon and Microsoft



Amazon (AMZN) briefly exceeded the trillion dollar mark for the first time since September. At that time, both Amazon and Apple were worth more than a trillion dollars. Apple (AAPL) Since then, the shares have retreated a little. The iPhone manufacturer is now worth about $ 920 billion.

Big Tech shares have soared this year, despite concerns over the possibility of further regulation in the United States and around the world, as well as trade tension between the United States and China. So far, its sales and earnings growth have remained relatively strong.

Microsoft (MSFT), which is now worth almost $ 1.1 billion, is the most valuable company on the planet. It has shot up 36% thanks to optimism about its business in the cloud.
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Amazon has risen more than 35% and lately it has recovered from optimism about its upcoming Prime Day shopping extravaganza. The result was a seven-day winning streak that ended on Thursday.
Facebook (full board) Shares have risen more than 50%, while Apple has risen 30%. Even the owner of Google Alphabet (GOOGL), which has been a delay in the technological rally, continues to rise 10% this year.
The five largest companies now have a combined market value of $ 4.36 billion. Y Netflix (NFLX), which often accumulates with the rest of the technology giants as part of the so-called FAANG shares, now has a value of $ 165 billion. It has shot up almost 45% this year.

But investors' infatuation with technology, to the exclusion of many other actions, is worrisome for Daryl Deke, the principal founder and CEO of New Market Wealth Management.

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Deke said there has been a "massive gap" between how Big Tech has done compared to other sectors. That's not healthy, and it could burn investors who focus too much on technology.

"Investors have been rewarded for focusing and being taught that diversification is bad, which is not good in the long term," Deke told CNN Business.

But for now, it still seems that technology stocks are the most important trade on Wall Street.


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