The coronavirus epidemic has shattered the global economy. The consequences of the pandemic will reverberate around the world for decades to come. Not only has the pandemic killed over 2.5 million people worldwide, but it has also wreaked havoc on each country’s economy. Nearly 9.5 million jobs have been lost in the United States since February 2020. (BLS).
While many businesses plummeted and tried to adjust, this was a great opportunity for online businesses to thrive even more. Here are the top 3 companies that benefited the most during COVID. You can also buy their shares on Forex, so if you are not in the trading game, get educated. Find a reliable Forex broker, and step your financial game up. Let’s begin!
Apple Inc. (NASDAQ: AAPL)
Apple Inc. is at the top of our list of the 15 businesses that gained the most from the pandemic. On the last day of 2020, Apple had a market capitalization of $2.23 trillion, up 80% from the same time in 2019. AAPL recorded overall revenue of $64.7 billion in the fourth quarter of 2020, with foreign revenues accounting for 59 percent.
Work-from-home and distance learning increased Macs’ sales ($9.03 billion) and iPads ($6.79 billion) last year, making Apple Inc. the most prominent business that gained the most from the pandemic. In the middle of the pandemic, the company sold over 200 million iPhones. Apple’s service revenue, which includes the App Store, iCloud, Apple TV+, Apple Pay, and Apple Music, increased by 24% to $15.8 billion in the December quarter. On the other hand, Apple’s wearables and home and accessories sales increased by 30% to nearly $13 billion in the same year.
Amazon.com Inc. (NASDAQ: AMZN)
Amazon.com Inc. comes in second on our list of the 15 businesses that gained the most from the pandemic. The company’s market cap reached $1.6 trillion by the end of December 2020, up 78 percent from its valuation in 2019. In the fourth quarter of 2020, Amazon posted total net sales of $386 billion, a 38 percent increase since 2019.
During the coronavirus outbreak, online shopping exploded. As physical stores closed, Amazon provided low-cost items that you could “Add to Cart” and get shipped to your doorstep free of the coronavirus. The online retailing behemoth aided over 71,000 small and medium-sized businesses in achieving global revenue of $4.8 billion in exchange.
Tesla Inc. (NASDAQ: TSLA)
Tesla, a manufacturer of electric vehicles (EVs), is ranked fourth on our list of companies that benefited the most from the pandemic. Tesla Inc. had a market cap of $677.4 billion at the end of December 2020, up 784 percent from the previous year. According to the company’s full-year revenue report, Tesla’s overall revenue in 2020 was $31.5 billion.
With its solid EV sales, Tesla has also made a comeback. According to the company’s full-year revenue report, Tesla manufactured and sold half a million electric vehicles in 2020, compared to 600 cars per year five years ago. Tesla had 80% of the electric vehicle market share in the United States by 2020. According to a Morgan Stanley study published by CNN, the company’s market share dropped to 69 percent in February, as Ford enters the scene with the new all-electric Ford Mustang Mach-E.
Tesla decided to buy “only” $1.5 billion worth of Bitcoin in February 2021. The EV company has also stated that it would consider Bitcoin as a form of payment. If Tesla implements this soon, it will be the first major automaker to do so.