Last week, we saw the latest quarterly results for the (unfortunately named) FAAMG Big Tech companies.
For the uninitiated, that acronym is collectively worth $8T+:
- FB, Facebook ($923.6B)
- AAPL, Apple ($2.2T)
- AMZN, Amazon ($1.7T)
- MSFT, Microsoft ($1.9T)
- GOOGL, Alphabet ($1.6T)
The pandemic boosted Big Tech sales
While growth was slower for the other behemoths, their Q1 sales numbers are still huge: Alphabet ($55B), Microsoft ($42B), Facebook, ($26B).
For perspective, here’s how much these companies made per minute in the first 3 months of the year:
- Amazon: $837k
- Apple: $691k
- Alphabet: $427k
- Microsoft: $322k
- Facebook: $202k
And it’s not just sales
As reported by The Wall Street Journal, here are some other notable Q1 stats:
- iPhone sales alone hit $47B, with the average retail price hitting $847
- Microsoft Teams has 145m daily users, more than 7x the figure from 1.5 years ago
- Amazon’s US employee count hit 950k, ~2x the same period last year
- YouTube revenue was +49% YoY (and its projected $29-$30B run rate for 2021 puts it on par with Netflix)
- Facebook apps (i.e., FB, Instagram, Messenger, WhatsApp) were used by 3.4B+ people at least once in the past month
Perhaps the most jarring number?
FAAMG now makes up ~25% of the total value of the S&P 500 — 2x the share from 5 years ago. Unfortunately for us, it looks like that ghastly acronym isn’t going anywhere.