America is back in business.
The Department of Commerce reported on Thursday that the U.S. economy grew at an amazing 6.4% annual rate in the first quarter of 2021.
That was even higher than the stellar 4.3% growth we saw in the fourth quarter of 2020.
Aside from the dramatic rebound last year when the COVID-19 shutdown ended, it was the biggest economic growth we’ve seen since 2003.
The surge in economic activity was greater than many economists expected. But it didn’t surprise Ian King. He’s been talking about the economic growth for months.
Ian calls it the New American Economy. And it’s being fueled by a massive tech boom that’s impacting every area of our lives.
Read on to see how some of the biggest names in tech are growing at an incredible rate.
Big Tech Continues to Dominate
It’s earnings season, and Big Tech has been crushing analysts’ estimates.
Apple Inc. (Nasdaq: AAPL) had revenue of $89.6 billion compared to an expected $77.3 billion. That’s a $12.3 billion difference!
The $89.6 billion in revenue is a 54% increase from a year ago. Apple cited strong sales of its new 5G-enabled iPhone 12, as well as better-than-expected sales of its iPads and Mac personal computers.
Alphabet Inc. (Nasdaq: GOOGL), the parent company of Google, earned $26.29 per share compared to expectations of only $15.82 per share. It also grew its revenue 34% compared to the first quarter of 2020.
Part of Google’s success was due to its growing cloud computing division. It also saw a significant increase in ad revenue from its YouTube platform, which has reached an all-time high in popularity during the pandemic.
Microsoft Corp. (Nasdaq: MSFT) had its biggest quarterly increase in growth since 2018. Its Azure cloud computing segment continued to show solid gains, increasing revenue by 50% on a year-over-year basis.
The $1.9 trillion tech giant also cited a boost in sales during the pandemic of personal computers and its Xbox gaming console, as well as related products and services.
Amazon.com Inc. (Nasdaq: AMZN) grew its revenue by 44% on a year-over-year basis. Its Web Services cloud computing division continues to perform well, growing sales by 32% year over year.
The stock has been boosted by an increase in online shopping during the pandemic. CEO Jeff Bezos said earlier this month that the company now has 200 million Amazon Prime subscribers, up from 150 million at the start of 2020.
And Facebook Inc. (Nasdaq: FB) reported revenue of $26.2 billion, which is up 48% compared to a year ago.
The social media giant, which also owns Instagram and WhatsApp, said it has an all-time high of 3.45 billion monthly users across its platforms.
The strength of the American tech industry has helped push the major U.S. stock indexes to all-time highs. But according to Ian King, it’s just the beginning…
This Is Your Chance to Make 1,000%
Ian says we’re at the start of “the biggest, fastest tech boom in history.”
Technologies such as 5G, the Internet of Things, artificial intelligence, Big Data, cloud computing and more are beginning to disrupt every industry.
That means if you want to make gains of 100%, 500% and even 1,000% over the next 10 years, this may be your best chance.
And in Ian’s special presentation, he reveals how to profit from this massive tech boom with his No. 1 stock pick.
It’s a stock that his research shows has the potential to soar 1,000% over the next decade.
Assistant Managing Editor, Banyan Hill Publishing