The writer, Morgan Stanley Investment Management’s chief global strategist, is author of ‘The Ten Rules of Successful Nations’
The world’s tech giants have embedded themselves so deeply in the popular imagination that few people can picture a digital world led by any other names. But this assumption overlooks how quickly capitalism can cut giants down to size.
American tech companies lead the world’s top 10 by market value and many commentators and investors see no reason to question their continued dominance. Dozens of analysts rate each of the big tech firms, and every single one of them currently has a buy rating on Alphabet, Amazon and Microsoft. Apple and Facebook are also more widely favoured than the typical stock.