Who are the winners of the coronavirus pandemic?
Many millions, if not, billions of people have lost out due to the restrictions and new ways of life caused by coronavirus. Companies in industries like hospitality, sport, retail and leisure have felt the full impact of the lack of demand.
Compare these to other industries, and there is a select few very clear winners as a result of this pandemic. Big technology companies.
The reason why? The digital age has taken a big turn, and companies are beginning to realise that home working is either the new normal and they have to keep it like that, or they're just realising that home working is just as effective. As a result, you have companies like Microsoft, Amazon and Apple seeing their sales figures skyrocket, their CEOs cash in, and their share prices continually rising.
Let's take a closer look into how those 3 companies are succeeding.
As a major player in business collaboration online, Microsoft has seen its share price bounce straight back from the April lows it suffered. This is mainly due to the widespread adoption of its remote tools and 365 suite. Microsoft Teams is one of the biggest elements in Microsoft's range of products, and it has seen active users grow from 44 million, to over 75 million since the beginning of this year.
The 365 suite is no different, with many thousands of businesses taking on the service, to support both home working, and digital transformations, as they try to find better ways to service customers without being face to face.
This one is quite obvious, as it is directly as a result of consumer behaviour. As restrictions have been in place, consumers will be looking for ways to order products online, as opposed to in stores (As the stores are closed, of course). This has meant that Jeff Bezos (CEO of Amazon), has added another $25 billion to his fortune, sounds like a lot right?
Amazon has benefited well from its online store, but another branch of its portfolio that has done just as well, is AWS (Amazon Web Services). This cloud based platform for businesses has seen a big increase in users since the turn of the year, with the first quarter alone bringing in revenues 33 percent higher than the last quarter of 2019.
Like most companies, Apple took a big slump during March and April, but has since rebounded to be in a better position than it was in at the turn of the year, that is for its share price at least.
Their iPads, Mac desktops and Macbooks have all seen a big rise in sales, this is unsurprising due to the demand for home working, and Apple being a trusted operating system for fast working capabilities.
It is clear to see that these tech giants have all benefited from the current climate. It just goes to show that if you have technology that is in demand, you're going to be better off in the long-run, as remote working and online shopping are most likely going to remain popular for a very long time.
Thank you for reading 'Who are the winners of the coronavirus pandemic?' by IT Block. IT Block is an IT support services firm based in SIngapore and a registered Google News source.