It's a tech stock world, and investors just get to live in it.
The mind-blowing dominance of U.S. tech stocks in the global stock market is seen in the sector's $6.6 trillion market cap, says Bank of America Merrill Lynch strategist Michael Hartnett (see chart below). That is larger than all of emerging markets ($5.6 trillion market cap) and the Eurozone ($4.9 trillion market cap).
The global tech stock market cap now sits at $9.3 trillion, representing about 20% of the global stock market's valuation as measured by the MSCI All-Country World Index.
But the stats get even more fun when locking in on the popular FANG complex, which is an acronym developed by TheStreet's founder Jim Cramer several years ago.
Points out Harnett, "Eight tech stocks (FAAMG+BAT) are larger than the market cap of every listed company in the Eurozone, in Emerging Markets (ex. BAT), and in Japan." FAAMG + BAT stands for: Facebook (FB - Get Report) , Apple (AAPL - Get Report) , Amazon (AMZN - Get Report) , Microsoft (MSFT - Get Report) , Google/Alphabet (GOOGL - Get Report) , Baidu (BIDU - Get Report) , Alibaba (BABA - Get Report) and Tencent (TCEHY) .
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