The epic scale of the so-called Magnificent Seven was put under the microscope by analysts at Deutsche Bank, which finds the grouping of U.S. tech giants equal in size to multiple major stock markets put together.
The $13.1 trillion value of Microsoft
would beat that of Japan, France and the U.K. combined.
Their profits are large but not quite as gargatuan — at $361 billion over the last 12 months, they are slightly less than the $383 billion brought in by all Japanese companies, and about half of Chinese companies.
And there’s potentially much more for these tech giants to profit from — Deutsche Bank points out nearly 40% of the globe still doesn’t have access to the internet.
They put together an interesting chart of technology and infrastructure adoptions throughout history. “Some have levelled off quicker than others though and often creating investment boom and busts,” they say.
The network effects and the infancy of artificial intelligence suggest the Mag 7 could continue to grow, while antitrust, tightening government control of communication as well as increasing sabotage are all possible risks.