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These are the 8 mega-billionaires who have gotten the biggest boost to their net worth this year as the world has grappled with coronavirus
Markets have been on a rebound rally since bottoming in March. While the S&P 500 and Dow are down this year, the Nasdaq erased 2020 losses in May.
The tech-heavy Nasdaq has rebounded this year led by giants such as Facebook and Amazon. The index is now only 5% lower than its February high.
Billionaire Chamath Palihapitiya says Jeff Bezos is this generation’s best investor, ‘even better than Buffett’
Palihapitiya thinks Bezos is a better investor than Buffett because Amazon hasn't repurchased as much of its own stock.
Amazon’s new biggest bull thinks the tech giant could surge another 31% as it emerges from the Covid-19 crisis stronger
"We believe that AMZN is perhaps the only company that can service customers this well with scale & effectiveness during the crisis," said JPMorgan.
"If you're a shareowner in Amazon, you may want to take a seat, because we're not thinking small," CEO Jeff Bezos said in a statement.
Several analysts expect Amazon's delivery business to surge amid widespread quarantines, though one firm views its stock price as a key risk.
The battered $700 billion US energy industry is now worth roughly half of Microsoft amid oil’s record plunge
Microsoft is in the elite group of tech companies that have beaten the broader market as coronavirus has spread.
3 reasons one Wall Street firm says to stick with cloud stocks amid the coronavirus-induced market rout
"Having a playbook of tech themes and stocks that can navigate this dark storm remain the best way to invest in this landscape," said Daniel Ives.
JPMorgan says these 6 stocks stand to benefit as coronavirus sparks ‘fear of public places’ and work-from-home arrangements
E-commerce "will benefit as closings of physical stores & fear of public places should accelerate the secular shift of retail online," JPMorgan said.
4 tech giants President Trump calls ‘MAGA’ stocks have lost $1 trillion in the coronavirus-induced market rout
The tech giants are Trump's favorites because the beginning letters can be arranged to spell "MAGA" — the acronym used during his 2016 campaign.