Big Tech Companies Flourished amid COVID, Had a Blockbuster Pandemic Year
When the COVID pandemic brutally destroyed the world economy and companies across the globe, the tech companies flourished in this pandemic that started in early months of 2020. The global shift in habits helped the big tech companies Google, Amazon, Facebook, Apple and Microsoft (GAFAM), earned unexpected revenues in the pandemic year, better than normal years. The Tech giants – Amazon and Apple posted record revenues with both companies topping $100 billion in quarterly revenue for the first time in the final quarter of 2020. These companies earned over Rs 1.5 cr to Rs 6 cr per minute with net profit increment in the range of 44% to 220% in Q1 of 2021.