Big Tech may have remained immune to the pandemic, but politics can take a toll on the giants
Apple’s rise as the most valuable company in the world and the doubling of its valuation in a mere two years’ time proves the growing dependence on technology across the world. It also points to the vital role China has played in its soaring market value. A country of over a billion, China has provided Apple a stable, efficient, low-cost manufacturing base with an abundant network of suppliers. The US tech giant’s success in wooing customers in China has helped its sales soar. The megafactories in various Chinese cities have helped it cement profitability and made the company, much like other tech giants, immune to a host of problems that have impacted the bottom lines of companies in different sectors.
At a time when the Covid-19 pandemic has had a crippling impact on economies across the world, Big Tech has seen a stellar rise this year. Apple’s CEO Tim Cook has joined the billionaires’ club and the company is nearing the $2-trillion mark. But will companies like Apple continue to benefit or will they get caught in the US-China war that has spanned from trade to technology. Apple is heavily invested in China and could find it very difficult to reduce its reliance on the market. Big Tech may have remained immune to the pandemic, but politics can take a toll on the giants.