These 3 Tech Stocks Made Investors Billions in 2020
The coronavirus pandemic accelerated changes in consumer habits and the digitization of enterprises, boosting the business of many tech players that have been providing the tools to enable such changes. As a result, the following three tech stocks made investors billions in 2020.
This year, Microsoft (NASDAQ: MSFT) paid $15.5 billion in dividends and repurchased $16.4 billion worth of shares. Yet those impressive numbers pale in comparison to the $493 billion increase in the company's market cap to $1.69 trillion as the stock price surged by 42% since the beginning of the year.
The tech giant grew its public cloud infrastructure business, Microsoft Azure, to become a strong challenger to Amazon's Amazon Web Services (AWS). Azure's market share for cloud infrastructure services increased to 19% during the third quarter of 2020, up from 17% one year ago.
Source Fool.com
