More from the Race to a Trillion series »
Microsoft’s disastrous smartphone investments and status as an also-ran in search are so well known that its strengths in cloud computing are often underappreciated, yet it is growing revenues now at the fastest clip in a decade
As Amazon extends its dominance of the fast-growing ecommerce market, and works its way into more corners of consumers’ lives, it is also expanding high-margin cloud computing and advertising businesses.
Apple is conducting the biggest share buyback in corporate history, further enthusing investors who have been cheered by robust iPhone sales and the steady growth of revenue from services.
The search advertising market may be 20 years old, but growth at Google has re-accelerated in the past three years. The cash pouring into its main business allows parent company Alphabet to pursue “moonshot” investments far beyond search.
Market capitalisations are based on companies’ most recently-disclosed share counts. Read Robin Wigglesworth, the FT’s US markets editor, on why the exact moment Apple crosses $1tn may be unknowable.