ereThe United States, which has the largest economy in the world, relies on a number of industries to support its $23 trillion annual GDP. Some of the biggest tech companies in the world are based on the West Coast.
Big Tech still calls the US home since it has the largest and healthiest economy on the planet. High employment rates, a strong dollar globally, and low inflation rates are other factors to take into account. The most important component of the puzzle is having strong firms that support millions of jobs in the nation
The situation right now
It goes without saying that Apple is currently the most well-known technology business in the world. Apple has avoided the drastic cuts we have seen at other Western IT behemoths like Meta and google, despite the fact that there have been widespread layoffs in the industry.
Over 25% of the American GDP is contributed by Apple, Alphabet, Microsoft, and Amazon.
The great four’s entangling strands
Although the amount these businesses provide to the biggest economy in the world is practically immeasurable, it is not just a matter of numbers on a sheet. Being at the vanguard of the technology industry, you realise these firms have a tremendous impact on practically every level of the economy, which is what makes them so inventive.
In America, there are currently over 80 million iPhone users, and this number is expected to rise. This equates to almost one-third of all Americans. Google, the most popular website and leading search engine in the world, is the most important division of Alphabet. Hundreds of millions of users use an office system from Microsoft on a global scale.
Amazon is remains the leading online commerce store, despite a sharp fall in recent commercial activity and profits. These businesses all complement one another. You can use the services of one to access the other and vice versa.
Future of Big Technology
The bigger query is whether these businesses have reached their apex. Few industries in recorded history have attained the market value and profits that these four businesses have over the past 20 years.
Additionally, there are rumours that the US dollar may cease to be the world’s reserve currency.
Five years ago, the idea of the Tech sector or the US currency declining seemed inconceivable. However, the past 12 months have shown that we shouldn’t rule anything out when it comes to the forecast for the world economy, and both scenarios are now a possibility.