The US has a massive tech sector, but the industry is also a bit undersupplied.
So when we say there’s a lot of tech stocks, we mean the stock market in terms of tech companies, too.
And there’s just not a lot out there, according to a new report from BofA.
The data shows that there’s only a handful of companies in the US that have more than $100 billion in market capitalization.
Those companies are: Alphabet, Amazon, Facebook, LinkedIn, Tesla, and Amazon Web Services.
But the biggest name in the tech industry is Google, which has $10.6 trillion in market cap.
The company has also seen a significant increase in value in recent years, thanks in large part to Google’s search and mobile efforts.
BofAs research showed that the market capitalisation of Google’s $11.6 billion in the first half of 2018 was more than four times larger than that of its nearest competitor, Facebook.
And while there are some tech companies in Silicon Valley that are worth a ton, there’s not much else worth investing in the country, according the Bofas report.