Five of the market’s most notable Internet and technology names — Apple, Microsoft, Google parent Alphabet Inc., Amazon.com Inc. and Facebook parent Meta Platforms Inc. — rose this year, even as they finished in the red on the final trading day of 2021.
While their 2021 performances varied from Alphabet’s 65% surge to Amazon’s 2.4% slog, the group collectively added more than $2.45 trillion in market valuation. Microsoft, Apple and Alphabet were among the three biggest contributors to the S&P 500 Index’s 2021 gains.
“Investors have recognized that these companies continue to do extremely well,” said Mark Luschini, chief investment strategist at Janney Montgomery Scott, which has about $125 billion in assets under management. The rapid growth of their profits, their competitive moats and the strong balance sheets have protected them from some of this year’s risks, he added.
“While I believe in the merits of tilting toward cyclical names going into 2022, I would not abandon tech,” Luschini said.
The group ended 2021 on a negative note. Apple fell 0.4% on Friday, while Microsoft lost 0.9%, Amazon dropped 1.1%, Alphabet shed 0.9% and Meta sank 2.3%. The Nasdaq 100 Index declined 0.7% for the session but still rallied nearly 27% for the year.
Here’s how the group performed in 2021, starting with its biggest gainer:
Google’s parent company soared 65%…