IT companies make huge win on stock market

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IT companies perform better than expected on Wall Street. Salesforce is the biggest winner, with a share price increase of 26 percent in just one day. Facebook, Apple and NetApp are also doing well.

American IT companies can be happy with the results of yesterday’s stock market. For Salesforce, the 26 percent increase is proof that the company is one of the leading IT companies. The company recorded record sales of more than 5 billion dollars in the previous quarter. Salesforce will soon be added to the Dow Jones index.

NetApp’s share value increased by 10 percent. NetApp recorded sales of 1.3 billion dollars, compared to 1.24 billion dollars last year. Analysts predicted that the company would be declining in terms of revenue and sales figures.

Facebook and Apple

Facebook announced that the company expected lower revenues. Despite the doubts, Facebook still recorded a share price increase of 8.2 percent. Apple recorded a share price increase of 1.4 percent. Google’s parent company, Alphabet, can’t complain either with a share price increase of 2.4 percent.

ERP vendor Workday and big data company Splunk also experienced an enjoyable day, with an increase of 10.1 percent and 6.4 percent respectively. Box, a specialist in cloud-based content management and cloud storage, concluded the day with an increase of 6.99 percent.

Growth of IT market

Ever since the corona virus hit the world, the IT market has kept the American stock exchanges afloat. While a lot of countries are still suffering from the pandemic, these companies are growing faster than ever before. Working in the new normal requires new tools and services these companies can offer.

Tip: Learn from other entrepreneurs how you can innovate during COVID-19