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United States Economy Update: Tech companies have been affected by expensive debt in America, due to which tech companies are continuously laying off. Recently, banking crisis has also been seen in America. Silicon Valley Bank and Signature Bank collapsed. A partial recession in the US economy is being predicted in the second half of 2023 due to abysmal inflation and high debt. There is a possibility of slowing down the pace of economic development in America. Country’s veteran banker and chairman of Kotak Mahindra Bank MD Uday Kotak has raised questions on all these arguments. He said that it is immaturity to talk about the decline in America’s economic development.
Uday Kotak tweeted that in terms of valuation, 9 out of 10 companies in the world are American and one company is from Saudi Arabia. He said that there is neither any European company nor Chinese nor any Indian company in this list. That’s why talking about the fall of America is a sign of immaturity.
Top 10 companies in the world by value. 9 American, 1 Saudi. No European, Chinese or Indian company. Predictions of American decline are premature? pic.twitter.com/Wcl8yn59gh
— Uday Kotak (@udaykotak) April 17, 2023
Uday Kotak said in his tweet that Apple is the world’s largest company with a market capitalization of $2.598 trillion. After that comes the number of Microsoft whose market cap is $ 2.13 trillion. In the third place is Saudi Aramco of Saudi Arabia with a market value of $ 2.032 trillion. Google comes in the fourth place, whose value is $ 1.349 trillion. Amazon at the fifth position with $1.043 trillion, Berkshire Hathaway at sixth with $711.10 billion, NVIDIA at seventh with a value of $655.48 billion. Tesla at eighth with $580.11 trillion. Ninth is Meta with $564.65 billion and 10th place is Johnson & Johnson with a market cap of $516.05 trillion.
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