Tech giants had a great 2020, but 2021 is likely to be less generous
For four of the biggest US tech companies — Amazon, Apple, Facebook and Google parent Alphabet — 2020 was one for the books. During a year when the pandemic put many companies out of business, these market leaders thrived, raking in profits that sent their stock prices soaring and left them more powerful and valuable than ever. The outlook for 2021 is a different story.
These formidable giants face risks on several fronts — from mounting antitrust and regulatory issues to high valuations and a volatile economy — all of which threaten to spoil the prospects for a repeat performance in 2021. And not just next year: governments’ growing concern over the companies’ market power may force changes to their businesses that have much longer-lasting consequences...
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