[The newspaper's special correspondent in the United States, Wang Siwei] The market value of U.S. technology stocks can be regarded as a rich country, which has soared by 17% since the beginning of this year. It is the best performer in the S&P index. According to the US financial website CNBC 23, Hartnet, chief investment strategist of the Bank of America Merrill Lynch, said that such a high market value may lead to excessive speculation. According to data released by investment bank Goldman Sachs, this year's 40% rise in the Standard & Poor's 500 Index comes from Apple, Google, Amazon, Facebook and Microsoft. Among them, Apple's share price has risen 33% since the beginning of this year, up 61.5% from the same period of last year. The market capitalization of some companies even surpassed the GDP of large US cities. Google’s market value of US$657.9 billion surpassed the US$581 billion of Chicago’s, and Amazon exceeded Washington, DC. Some analysts predict that Apple’s market value will exceed 1 trillion US dollars in the next 12 months to 18 months, becoming the company with the highest historical listing value. The combined market capitalization of Google and Apple exceeds the combined market value of 1.31 trillion U.S. dollars and all Japanese financial stocks by 1.45 trillion U.S. dollars. Hartnett warned that despite the massive expansion of global companies, especially digital technology companies, more and more Americans feel economically abandoned, which may eventually lead to populism demanding the redistribution of increasingly concentrated wealth in Silicon Valley. Hartnet said that if the S&P 500 Index reaches 2630 points, the global total market capitalization will account for the proportion of global GDP that will exceed the historical highs of 1999 and 2007. Both these days are the eve of the stock market crash, driven by technology stocks. The disconnect between the S&P index and the global economy is ultimately unsustainable. As for whether or not the Internet stock bubble burst as a result of the stock market crash around the year 2000, CNBC quoted the analysis of the Bank of America Merrill Lynch as saying that during the tech-stock bubble from 1999 to 2000, cash in the market fell sharply, and a similar bubble is now forming. However, the cash level did not drop significantly. The market value of Alibaba listed on the Hong Kong Stock Exchange's Tencent and NYSE listed companies also reached new highs, reaching 2.54 trillion Hong Kong dollars (US$326.8 billion) and 304.8 billion US dollars, respectively. Top 10 companies with the highest investment value selected by Forbes in the American Business Journal, Alibaba topped the list. In the mainland China A-share market, the stocks that accounted for the top market capitalization are mostly real estate, petroleum, insurance, and banking. The market value of technology and Internet stocks are small. Taking ZTE and China Unicom as examples, the market value of the two stocks was RMB 65 billion and RMB 158 billion respectively, which is far less than the stocks of Chinese technology companies and US technology companies listed overseas. ▲ Locomotive Toilet Module,Metro Interior Toilet,Railway Interior Toilet,Subway Interior Toilet CRRC SHANDONG CO., LTD. , https://www.crrcsd.com
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