(noun): the group of Big Tech companies that exercise monopolistic control over the supply of digital services
Technology has often seemed to be the only story in the markets this year; the sector has a “techopoly” on news both good and bad. A handful of the largest tech companies, including Facebook, Apple, Amazon, Google and Microsoft have come to dominate the value of the S&P 500.
Driven by everything from the pandemic (which sped up the shift to digital), to continued monetary and fiscal stimulus, the sector as a whole has been on a tear this year, with share price gains in the hottest tech initial public offerings greater than anything seen since the dotcom boom of 1999.
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