The market capitalization of the FAANG stocks (Facebook, Amazon, Apple, Netflix and Alphabet (parent of Google)) is bigger than the economy of some countries. I came across the following detail on the size of these tech giants:

Bigger than Japan

FANGs is an acronym for Facebook, Amazon, Apple, streaming service Netflix and Google (now owned by parent Alphabet). These five alone have a combined market capitalisation of $3trn. That’s greater than the UK’s annual gross domestic product (GDP). If you then add in another US tech giant, Microsoft, whose market cap is $700bn, plus the FANG’s equivalents in China – Alibaba ($500bn) and Tencent ($560bn) – then these eight behemoths together are valued at more than the GDP of the world’s third-largest economy, Japan. So great is the worth of just the three largest FANGs that if they were countries each would be eligible for membership of the G20, a club of the world’s richest nations.

Source: Investors should stand clear as the tech giants stumble by Jonathan Compton, MoneyWeek

The entire article is worth a read.

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