Yesterday I was on Fox Business and I had the chance to talk about technology companies and how they are changing the way we live our daily lives. With the US economy growing at a stale 1%, technology companies are innovating and growing at an exponential rate. The Nasdaq is blowing past 2000 levels. It just hit an all time high this week closing just under 5300 points.
Technology is changing our lives on a daily basis. The way we live is being driven by technology. Think Facebook, Google, Amazon, and Apple. We all have high powered phones in our pocket; this makes everything directly accessible to us. Facebook and Amazon hit record highs this week, and I expect the growth to continue into next year. These companies are not a trend; they are here and here to stay.
The race to a trillion is among us. The top 5 market cap companies are all technology companies. I have stated this multiple times, I believe Facebook will be the first trillion dollar company. Most of Facebook’s revenue comes from their core platform, but I think Facebook will be able to generate significant revenue from Instagram, Messenger, WhatsApp and virtual reality company Oculus as well. If you are a new company and need to spend money on advertising why wouldn’t you go to Facebook. They have 2 billion monthly active users on their platform and they have the ability to target individuals that relate to your company.
Please click the link above to watch the Fox Business video.