The U.S. economy’s free fall may be nauseating for some sectors, but for the four tech giants that posted earnings results on Thursday, the past three months have been more like a thrill ride.
The day after taking tough questions from the House Judiciary Committee on whether they’ve become too powerful, chief executive officers from Google-parent Alphabet, Amazon, Apple and Facebook revealed that their influence is only growing.
These captains of tech industry posted a collective $28 billion in profits and added $214 billion in market value, a gobsmacking set of figures even in the best of times. But it stands out against a doom-filled backdrop of a U.S. economy that shrank 33 percent, while fears stretch worldwide across other businesses — from Main Street mom-and-pops to the arbiters of global luxury — that are dancing on the knife’s edge of real or potential extinction.
That may be stunning, but