Tech firms left US stock markets to record highs according to a report. Shares of Alphabet, Amazon, and Microsoft soared after reporting better than expected quarterly results. Amazon shares jumped over 11% as revenues grew 34% to $43.7 billion, helped by its Whole Foods acquisition. Microsoft shares rose nearly 8% as revenues increased 12% to $24.5 billion. Alphabet revenues grew 24% to $27.8 billion on strong advertising sales. The gains increased the net worth of Amazon founder Jeff Bezos, making him the world's richest person ahead of Bill Gates. However, some issues remain as many Americans still struggle with poverty, debt, and stagnant wages.

1. 1
Letter of Transmittal
December 10, 2017
Dr. Roni Bhowmik
Lecturer
Department of Business Administration
Daffodil International University
Subject: Submission of report on Tech Firms left US Stock Markets to Record Highs.
Honorable sir,
This is the great pleasure for me to submit the report under “The Guardian” Newspaper on
“Tech Firms left US Stock Markets to Record Highs” according to your specification and
regulation. We would like to submit my report.
We also like to draw your kind attention to the fact that, we tried our level best to gather and
organize all kind of information needed for the particular assessment. We have tried our utmost
to live up your standard. We tried to gather information and idea to make it specific and logical
based on the stock market performance of that company. Through the process of preparing the
report we managed to some practical experiences and bookish knowledge also.
May we therefore wish and hope that you would be cordial enough to our effort and work and
oblige thereby.
On the behalf of Group Member
MD. Muwas Mia

2. 2
Summary
New dotcomboom as Alphabet, Amazon and Microsoft shares soar after results
are better than expected. Overall, the technology-heavy Nasdaq Composite index
rose1.6%, hitting a record high of 6,664 by mid-morning in New York. The S&P
technology index – which has gained about 30% so far this year – added 2.6% to
a new peak of 1,086. Amazon shares jumped more than 11% in early dealings on
Wall Street. Microsoft’s sharepriceadded nearly 8% as investors welcomed news
of a 12% rise. Adding to the technology bonanza was Alphabet, which saw
revenues jump 24%. Microsoft founder Bill Gates as the world’s richest man.
This is the second time Bezos has become the world’s richest man. Microchip
maker Intel, up 5% after its results, and Twitter, 4% higher following slightly
better than expected revenues. Apple, which saw strong demand for its iPhone X
onits first day ofsales onFriday, added 2% ahead of results next week. Facebook,
which also reports next week, rose 3%.

3. 3
Table of Contents
Introduction................................................................................................................................5
Result .........................................................................................................................................6
Discussion..................................................................................................................................7
Conclusion .................................................................................................................................8
Reference: ..................................................................................................................................8

4. 4
Acknowledgement
I feel great pleasure that i got an opportunity to present “The Guardian” Newspaper
on “Tech Firms left US Stock Markets to Record Highs”
Firstly, I am thanking to my course teacher Dr. Roni Bhowmik. Encouragement
in carrying out the report. He has tried very hard & put lots of effort to guide me
I am also thankful to him because he had put their valuable time to me.
And finally I also very much thankful to my almighty, my friends & my parents
who guide me during preparation of report.
Signature
MD. Muwas Mia

5. 5
Introduction
US stockmarkets hit new peaks on Friday after forecast-beating results from the
technology companies including Google’s parent company Alphabet, Amazon
and Microsoft. Adding billions in revenues and increasing profits compared with
the same three-month period in 2016. Overall, the technology-heavy Nasdaq
Composite index rose 1.6%, hitting a record high of 6,664 by mid-morning in
New York. The S&P technology index – which has gained about 30% so far this
year – added 2.6% to a new peak of 1,086.
There are some limitation also:
40 million on food stamps.45 million in poverty. 21 million kids in poverty.
750,000 homeless. 20 million living in caravans. 0.1% have 200 times more
income than 'bottom' 90%. Debt v GDP of 110%. $4.5 trillion national debt. Real
wages stuck back in the 1990's.

6. 6
Result
Amazon shares jumped more than 11% in early dealings on Wall Street, with
third quarter revenues up 34% to $43.7bn, helped by its recent purchase of the
Whole Foods Markets chain.
Microsoft’s share price added nearly 8% as investors welcomed news of a 12%
rise in revenues to $24.5bn, better than the expected $23.56bn.
Adding to the technology bonanza was Alphabet, which saw revenues jump 24%
to $27.8bn, with stronger than expected advertising sales at Google and a strong
performance from YouTube. Concerns about the company’s dominant market
position have yet to hit its financial results, and the shares rose about 6%.
The rise took his total wealth to about $92.5bn and allowed him to overtake
Microsoft founder Bill Gates as the world’s richest man. Gates’ gain on Friday
amounted to about $550m, taking his wealth to $88.5bn
This is the second time Bezos has become the world’s richest man. In July, hopes
for positive second quarter figures from Amazon lifted the company’s shares and
briefly pushed Bezos above Gates in the rankings. But the results disappointed
investors, Amazon shares fell back and Gates regained his crown.
Microsoft, as part of its revival under chief executive Satya Nadella, has focused
on its cloud computing business to offset flagging sales of its Windows software.
Revenues from the cloud business – which includes products suchas Office 365
- rose 14%, while the personal computers division slipped 0.2%.

7. 7
Discussion
All three saw their shares soar to record highs in the wake of better than expected
quarterly updates, adding billions in revenues and increasing profits compared
with the same three-month period in 2016.
Many analysts had become concerned that the value of technology shares had
reached unsustainable levels and could be heading for a sharp correction, but the
results from the three companies announced after the market closed on Thursday
allayed fears of a new dotcom bubble
Amazon shares jumped more than 11% in early dealings on Wall Street, with
third quarter revenues up 34% to $43.7bn, helped by its recent purchase of the
Whole Foods Markets chain.
Microsoft’s share price added nearly 8% as investors welcomed news of a 12%
rise in revenues to $24.5bn, better than the expected $23.56bn.
Adding to the technology bonanza was Alphabet, which saw revenues jump 24%
to $27.8bn, with stronger than expected advertising sales at Google and a strong
performance from YouTube
Amazon benefited from its Prime Day promotion in the summer. After the results,
Credit Suisse raised its target price for Amazon shares from $1,350 to $1,385.
But the effects of Amazon continuing to win business from older retailers reliant
on physical stores was shown by a profit warning from department store JC
Penney. Its shares dropped 17% after it said it was forced to sell off unwanted
inventory at discount prices and warned it no longer expected an increase in full-
year sales.
But the Dow Jones Industrial Average edged up only 0.1%, weighed down by
disappointing results from oil company Chevron and a downbeat report from
pharmaceuticals business Merck, which suffered disruption to its business after a
cyber-attack earlier in the year. The Dow was also undermined by the dollar
strengthening in the wake of a higher than expected third quarter GDP figure,
adding to belief that the US Federal Reserve is likely to raise interest rates at its
December meeting.

8. 8
Conclusion
We have certainly seen stock markets soar and GDP go up markedly in the US
(and UK) over the last 10 years.
And we have also seen that neither have made retail spending or average wages
better, and no wealth created by GDP growth or stockmarkets have filtered down
to ordinary people.
What both economies need is wealth redistribution, not GDP growth. The rich
and companies paying their taxes in their states and taxation on both being given
out to minimum wage workers.
Reference
https://www.theguardian.com/business/2017/oct/27/tech-giants-lift-us-stock-
markets-to-record-highs.