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Big Tech’s latest reckoning is coming as it continues to rack up record valuations

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Big Tech’s latest reckoning is coming as it continues to rack up record valuations

Image caption: The leaders of Google, Amazon, Facebook and Apple will testify before lawmakers on July 27. AFP/Getty Images. Article by Jon Swartz.

Tech’s Big Four CEOs should be nervous as they approach a virtual July 27 hearing before the House Judiciary Antitrust Subcommittee.

So why aren’t they?

Apple Inc.’s AAPL, -0.46% Tim Cook, Amazon.com Inc.’s AMZN, -3.00% Jeff Bezos, Facebook Inc.’s FB, -2.47% Mark Zuckerberg and Alphabet Inc.’s GOOGL, -1.74% GOOG, -1.97% Sundar Pichai can think of 5 trillion reasons why: That’s the collective market value, in dollars, of their companies. All but Facebook are worth at least $1 trillion.

The fab four have never been worth more, as they gobble up market share and expand into other segments through a flurry of acquisitions. As Apple hurtles toward becoming the first company to reach $2 trillion in market value, shares of Amazon and Alphabet catapulted to record highs after Mizuho analyst James Lee raised his price targets for both, citing jumps in cloud spending in the financial services, retail and health-care industries. […]

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