Trump made a special sign to show reporters that the initials of the 4 most valuable stocks spell MAGA
- President Trump highlighted the best-performing companies on the stock market so far this year, holding up a sign that said "the trillion $ club" in an Oval Office briefing held Tuesday.
- The sign alluded to a recent achievement made by Google's parent company Alphabet, which became the fourth American company to hit a market cap of $1 trillion last month.
- Visit Business Insider's homepage for more stories.
Four tech companies have earned bragging rights to a unique milestone in recent months: a trillion dollar market valuation.On Tuesday, President Trump, highlighted the four companies - Amazon, Apple, Microsoft and Alphabet - during a press briefing in the White House's Oval Office. But Trump also took delight in pointing out something else about this rarefied group of companies. Advertisement
The first initial of each company's stock ticker creates the MAGA acronym, Trump's famous campaign slogan that stands for 'Make America Great Again.'
In this case, as Trump pointed out, MAGA stands for Microsoft, Apple, Google and Amazon.He even had prepared a special sign, titled "The trillion $ club," and laying out the four companies names for the benefit of the assembled reporters and guests.
Microsoft, Amazon, Alphabet and Apple have performed extremely well on the stock market this year, generating about 67% of the S&P 500's year-to-date returns.An astute reader might note that G in Trump's MAGA club should technically be an A, for Alphabet, the name of Google's parent company. But Alphabet's stock ticker is GOOGL, and Wall Street's custom is to use a G to refer to Alphabet/Google whenever a catchy stock grouping is coined, such as FAANG, or Facebook, Apple, Amazon, Netflix and Google. Facebook and Netflix didn't make the cut for Trump's trillion's club, and they have a long way to go. Facebook's market cap is only $591 billion while Netflix's is a relatively paltry $164 billion. Advertisement
Trump touted the four tech companies even as his administration has publicly feuded with several of them. Amazon, whose CEO Jeff Bezos is also the owner of the Washington Post newspaper, has been a particular target of Trump's ire.
And hours before Trump's MAGA moment on Tuesday, federal regulators antitrust announced plans to review past acquisitions by the largest tech companies, including all the members of Trump's trillion's club.Advertisement
Trump held out a sheet of "THE TRILLION $ CLUB"- Josh Wingrove (@josh_wingrove) February 11, 2020
Microsoft, Apple, Google, Amazon
Stylized to spell MAGA. pic.twitter.com/XHHw8ZWUld