How Healthy is the Public Technology Market?

In the last 35 years, the tech industry has exploded in size from $62B in total market cap to more than $9.7T today, as the chart above shows. In that time, the tech industry has birthed some behemoths. In 2013, Apple became the largest publicly traded company, the first time a technology company held that distinction. Despite the number of massive companies built over the past three decades, these tech giants represent an increasingly small amount of the total value in the technology sector.

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