“That which we call a rose by any other name would smell as sweet.” The sweet smell in this case refers to the emergence of tech companies as stock market leaders in the U.S. At the close of trading on August 1, the four most valuable companies on the Standard and Poor’s 500-stock index (S.&P.) were tech companies: APPLE, GOOGLE, Microsoft and Amazon. That meant that tech companies, by one common definition, occupied the four top spots in the market capitalization rankings, a rare and brief occurrence.
We can easily identified these companies as “tech companies” in the traditional sense, but the fact of the matter is that the most successful businesses or companies on the S.&P. today are using technology to fuel their continued growth and expansion. These days every company is a tech company, but some have better niches, faster growth, more attractive offerings or more favorable share prices than others. Tech has already taken over in nearly every business sector.
So what’s in a name? Do we identify these stock market leaders as “information technology companies,” or do you prefer “consumer discretionary companies”? Your choice.
And now for something completely different. This past week a new book was published on Amazon as well as other online book publishing formats. I authored one of the essays in this book: “Changed During the Sixties.” The book’s title is “Turning Points: Discovering Meaning and Passion in Turbulent Times.” I hope you will enjoy reading these essays about personal and professional transitions made during this time.
During the remainder of August, I will only be posting commentary on Mondays. I will be “resting” on Labor Day, but will resume my posts on a regular M-W-F basis on September 12.