The market’s blockbuster growth this year meant enormous gains for some tech leaders, but the rising tide certainly didn’t lift all boats.
Share to linkedin... [+]The stock market’s explosive growth this year—the S&P has risen more than 27%—means that 2019 is shaping up to be one of the best years for investing in recent history, which has been a boon for the leading tech giants that have seen their market caps grow rapidly. But the boom times have also left some competitors behind, among them some of the country’s biggest pharmaceutical, chemical, and consumer goods companies, reflecting changing times.
The company benefited from strong product sales and its entry into the streaming wars with Apple TV+., another top-performing tech giant, which has greatly expanded its cloud business this year, saw its market cap rise by $408 billion to a total of $1.19 trillion— running neck-and-neck with Apple for the title of the world’s most valuable company.
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